Russian Search Engine Yandex Shows Loyalty With Moscow Listing
Shares in Russian internet search engine Yandex will begin trading in Moscow on Wednesday in a move that will please the Kremlin and could shield the Nasdaq-listed company from any tightening of Ukraine-related sanctions against Russia. Russian President Vladimir Putin has led a drive to promote the Moscow Exchange and woo Russian companies that have chosen to float on foreign stock markets such as London and New York to widen their shareholder base and boost valuations. CEO Arkady Volozh said, Yandex will remain listed on the tech-heavy Nasdaq in the United States, but its Moscow debut will open the door to Russian investors and funds that are only allowed to invest within Russia.
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