Russian e-commerce firm Ozon’s ADS was delisted from Nasdaq. On Thursday, the Russian e-commerce company Ozon announced that its American depositary shares (ADS) had been delisted from the Nasdaq exchange. This marks the end of the company’s nearly three-year affiliation with the American stock market.
In late 2020, Ozon, one of Russia’s most successful e-commerce companies, participated in an initial public offering (IPO) and raised close to one billion dollars. This launch prompted a mini-IPO boom for Russian enterprises.
However, trading in Ozon’s securities on Nasdaq was banned shortly after Russia invaded Ukraine in February 2022, and listings of Russian corporations on the London Stock Exchange were also suspended at about the same time.
Ozon stated that its reporting duties were suspended as of November 9 and that it expected its termination and deregistration with the United States Securities and Exchange Commission to take effect on February 7, 2024. The United States Exchange Act governs these responsibilities.
“The company’s decision to proceed with the deregistration is aimed at reducing the complexity and costs of reporting following the delisting of the ADSs from Nasdaq,” “Zon stated in a prepared statement.
OzOzon’smerican Depositary Shares (ADSs) started trading on KaKazakhstan’sstana overseas exchange (AIX) at the end of July. The company stated that this move might boost liquidity, particularly for overseas investors who wish to trade its securities.