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Post: Shares of “Yandex” lost five percent on the Moscow Stock Exchange


Yandex office in Moscow. archive photo

Shares of “Yandex” fell by five percent after the news about the change in the structure of the company

MOSCOW, November 25 – RIA Novosti / Prime. Shares of Yandex NV, the parent company of Yandex, fell by almost 6% after the news about the change in the structure of the company, tracked by the data of the Moscow Stock Exchange.

By 17.56 Moscow time, Yandex shares fell in price by 4.3%, the maximum drop on Friday was 5.8%, 2006 rubles – the minimum since November 15. While the shares of the company were depreciated by 0.5% before the publication of the news, the share price of the company, which jumped to 1% after the publication of the news, experienced a sharp decline.

While Yandex’s parent company, Yandex NV, is considering the possibility of separating the main business into a separate Russian group of companies, it plans to eventually withdraw from its shareholders and change its name. Yandex said earlier on Friday that it remains behind one brand by including a number of foreign destinations.

International divisions of some of Yandex’s businesses, including drones and cloud technologies, will be split into a company managed by Yandex NV.

Source: Ria

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