Ozon decided to voluntarily leave the US stock exchange Nasdaq without waiting for a formal delisting.
“We have no reason to believe that stock trading will recover. Therefore, they did not wait to be formally delisted from the Nasdaq. “We decided to voluntarily leave the site and deregister our ADSs with the United States Securities and Exchange Commission,” the company said in a statement.
Ozon previously filed two potential appeals against the exchange’s decision to delist ADSs (American Depositary Shares), but Nasdaq rejected them.
Russian e-commerce platform Ozon listed securities on the Nasdaq exchange as part of its initial public offering in late 2020. The exchange suspended trading of ADS Ozon on February 28, 2022 and has not resumed since.
The company’s securities will continue to be traded on the Moscow Stock Exchange and the Astana International Stock Exchange. Ozon added that the delisting will not affect the operational activities or financial stability of the business.
Author:
Anastasia Marina
Source: RB
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