Ozon intends to start the procedure to change jurisdiction to Russian from 2024. The company previously announced plans to change its domicile in Cyprus after unsuccessful attempts to challenge Nasdaq’s delisting decision.
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According to the company’s financial director Igor Gerasimov, the procedure for the redomiciliation of the Cyprus holding company could begin this year.
In the coming months, the company will undertake a series of actions aimed at re-registering in Russian jurisdiction.
“There is such a plan and everyone supports it at all levels. But there are also objective obstacles and restrictions, so we cannot implement it faster,” the Interfax agency quotes Gerasimov.
Currently, Ozon’s holding company is Ozon Holdings Limited, registered in Cyprus.
In addition to the Moscow Stock Exchange, the company’s shares are traded on the Astana International Exchange (AIX). Previously, the securities were also traded on the American Nasdaq, but the platform decided to delist due to the introduction of Russian troops into Ukraine.
Ozon twice attempted to challenge Nasdaq’s decision, but his attempts were unsuccessful.
Author:
Natalia Gormaleva
Source: RB
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