Russian Tech Giant Yandex Says Might Default – The Moscow Times

Russian tech giant Yandex warned Thursday it may default on its debt after it was suspended from trading on New York’s digital stock exchange.

Nasdaq and the New York Stock Exchange this week halted all listings of Russian companies until they explain how they will be impacted by sanctions imposed by the U.S. and its allies in the wake of Moscow’s invasion of Ukraine.

In a press release published Thursday, Yandex, which is legally headquartered in the Netherlands but has its main offices in Russia, said that it was not targeted by the sanctions.

“There are currently no regulatory restrictions on the ability of U.S., U.K. or EU persons to acquire and trade in Yandex’s securities,” it added.

Nonetheless, the company, often called the “Russian Google” for its size and breadth of services, said that if it is suspended for more than five trading days, owners of certain bonds will legally be able to redeem their debt with interest.

“The Yandex group as a whole does not currently have…

Read Full Story: https://www.themoscowtimes.com/2022/03/04/russian-tech-giant-yandex-says-might-default-a76752

The post Russian Tech Giant Yandex Says Might Default – The Moscow Times first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/03/03/russian-tech-giant-yandex-says-might-default-the-moscow-times_2022030315329.html

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.