Breaking news: this e-commerce giant may face the risk of delisting!

Recently, Russian e-commerce company Ozon said that due to the failure of the latest appeal to delist its American Depositary Shares (ADS) from Nasdaq, the company's faint hopes of continuing to be listed on the US exchange have been hit , and it may face forced delisting in the future .

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

It is reported that shortly after Russia officially went to war with Ukraine in February 2022 , Ozon's securities trading on Nasdaq was suspended, as were many Russian companies listed on the London Stock Exchange .

Ozon said it was notified on Aug. 18 that its latest effort to avoid delisting was unsuccessful, but said Nasdaq’s board may propose reviewing the decision at an upcoming meeting.

" Unless all available review and appeal procedures under Nasdaq's listing rules have been exhausted , our ADSs will be delisted from Nasdaq , and we will continue to work hard to avoid that until then , " Ozon wrote in a statement .

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

Shares of Russian headhunter HeadHunter have been delisted from Nasdaq, but payments provider Qiwi and tech giant Yandex (YNDX.O) have been offered a lifeline to stay on Nasdaq, provided they fully divest their Russian assets.

E-commerce

Delisting