Breaking news! E-commerce giant announces voluntary delisting

According to foreign media reports, Russian e-commerce platform Ozon has recently stated that the platform has notified Nasdaq of its intention to delist its American depositary shares, thereby ending its nearly three-year relationship with the U.S. stock exchange .

It is understood that Ozon is one of Russia's largest e-commerce companies and raised nearly $1 billion in its initial public offering at the end of 2020. This IPO triggered a wave of small IPOs among many Russian companies .

But shortly after Russia sent troops to Ukraine in February 2022, Ozon's shares were suspended from trading on Nasdaq, as were Russian companies listed on the London Stock Exchange. Ozon had previously appealed the suspension twice , but both times were unsuccessful .

"We have decided to delist our shares from the exchanges on an independent basis as we have exhausted all opportunities to appeal the delisting decision, " Ozon said in a statement.

“We have no reason to believe that Ozon’s ADSs will resume trading on Nasdaq. The voluntary delisting was intended to reduce the costs associated with filing reports with the SEC. ”

Ozon said it plans to apply for voluntary delisting by October 30 and that the delisting will not affect its operations.

In late July, Ozon’s American depositary receipts began trading on Kazakhstan’s Astana International Exchange (AIX), a move the company said could increase liquidity, particularly for international investors who want to trade its shares .

Delisting

Ozon