The Kazakhstan Stock Exchange (KASE) has excluded shares of some Russian companies from the listing, Alina Aldambergen, Chairman of the Board of KASE, said answering journalists’ questions. Her words are quoted by Forbes.kz.
“This was due, firstly, to the sanctions regime. Secondly, to the difficulty of making settlements and trading in securities between Russia and Kazakhstan. At the moment, we have decided to delist a number of these securities,” she said.
According to Forbes.kz, on March 1, 2022, the Kazakhstan Stock Exchange suspended trading in securities of 11 Russian issuers, including ordinary shares of Aeroflot, Gazprom, Norilsk Nickel, Lukoil, Magnit and Rostelecom . Since February 15, 2023, they have been excluded from the KASE list.
From March 15, 2023, Yandex NV common shares will be excluded from the KASE list Alina Aldambergen noted that there is a certain sanctions regime, and over the past year, the Kazakhstan Stock Exchange has strengthened its enforcement. “There are certain sanctions nuances regarding this company, so we had to make a decision to delist,” she said. According to her, the sanctions apply not only to Yandex NV, but also to its stakeholders.
Co-founder and former head of the Russian company “Yandex” Arkady Volozh. He resigned from Yandex’s board of directors and stepped down as the company’s CEO after he was placed on the EU sanctions list due to Russia’s full-scale invasion of Ukraine. His assets in Europe were frozen.
According to the publication, common shares of Yandex NV were included in the KASE official list on March 26, 2019, and trading began on August 5 of the same year.
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