The New York Stock Exchange and Nasdaq on Monday imposed trade shutdowns by Russian-related companies after Western nations imposed punitive sanctions on Moscow.
Regulatory restrictions temporarily halt the trading of eight companies after Russia’s invasion of Ukraine.
Nasdaq has announced trading halts for Moscow-based internet company Yandex, Russian payments company QIWI, e-commerce platform Ozon and Moscow-based HeadHunter Group. Yandex has lost an impressive 69% of its value so far this year.
The exchange also halted trading at Cyprus-based Nexters, a video game developer with a presence in Russia.
Nasdaq declined to comment on the disruption of trading, but the exchange referred to a rule designed to ensure that material information is “fairly and properly disseminated to the investing public.”
A person familiar with the matter told CNN that Nasdaq is asking companies whether they need to make material disclosures in the wake of economic sanctions against Russia announced in recent days by the United States and other nations. Negotiations can resume once those concerns are satisfied, the source said.
The NYSE on Monday issued regulatory stoppages for three companies: Russian mining and steelmaker Mechel, Moscow-based Mobile TeleSystems and Cian, a Russian online property listing platform.
A spokesperson for the NYSE declined to comment on regulatory issues.
However, a person familiar with the decision told CNN that trading was halted at all three Russian-related companies that trade on the NYSE to give the exchange’s regulatory team time to gather information on the impact of recent events, including the latest round of sanctions on Russia.
None of the companies hit by regulatory shutdowns were fully excluded.
Source: CNN Brasil
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