MOSCOW (Reuters) – The Moscow Exchange held a discrete auction in Yandex NV common shares due to a more than 20% increase in their price for ten minutes in a row, after which it resumed trading in securities as usual, the site said.
The discrete auction mechanism is launched automatically; it was introduced instead of suspending trading in securities when its quotations rose sharply.
The duration of the auction was 30 minutes, it was held from 12.13 to 12.43 Moscow time in the main trading mode T +.
Yandex (MCX: YNDX) shares are rallying after Cyprus-based TCS Group Holding, whose main asset is Tinkoff Bank, announced that it is in talks with the company to sell 100% of its shares. Opportunity size – $ 5.48 billion