Russian tech The giant Yandex warned on Thursday that it could default on son debt after his suspension from trading on the New York one digital Stock Exchange.
The Nasdaq and New York Stock Exchange (NYSE) halted all trading this week of Russian companies until they explain how they will be impacted by the sanctions imposed by the United States and its allies in the alarm of that of Moscow invasion of Ukraine.
In a press release issued on Thursday, Yandex, headquartered social legal in the Netherlands but has son main desks in Russia said it was not targeted by sanctions.
“There are currently no regulatory restrictions on the ability of the United States, United Kingdom or European Union persons to acquire and trade in the titles of Yandex”, it added.
Nevertheless, the company often called the “Russian Google” for its height and width of services said that if suspended for more more than five trading days, owners of certain bonds may legally redeem their debt with interest.
“Yandex group the set does not currently have sufficient resources to redeem the tickets in full“, said the company.
Even if the company was able to obtain financing to pay them in fullYandex said such a large expense “would have a material negative effect on our short-term financial position and liquidity and may affect our ability to fulfill our other obligations.”
The company added that he was exploring what funding options were available to that.
Nasdaq, in response to an investigation by Agence France-Presse (AFP), said that the Yandex list “remains stopped.”
In 2021, Yandex earned about 356 billion rubles (about $4.77 billion) on the December stock exchange rate.
The company’s search engine, which launched in 1997, is the most grand of how nice in Russia, representing over 60% of country internet searches in the last quarter of 2021, according to the company.
the group has diversified its products in years and now offers a transportation and grocery delivery service.
