Ozon, a major player in Russian e-commerce, recently announced the successful delisting of its American depositary shares (ADS) from Nasdaq, concluding its nearly three-year association with the U.S. exchange. This move follows Ozon’s noteworthy initial public offering (IPO) in late 2020, where it raised close to $1 billion, sparking a brief IPO surge for Russian firms.
The suspension of Ozon’s securities on Nasdaq occurred in the wake of Russia’s invasion of Ukraine in February 2022, leading to similar suspensions for Russian companies on the London Stock Exchange.
Effective November 9, Ozon reported the suspension of its reporting obligations under the U.S. Exchange Act, with the anticipated termination and deregistration with the U.S. Securities and Exchange Commission set to take effect on February 7, 2024.
Ozon clarified its decision to proceed with deregistration, emphasizing the goal of streamlining processes and reducing reporting complexities following the Nasdaq delisting of ADS. The move aligns with the company’s commitment to efficient cost management.
In a strategic diversification effort, Ozon’s ADSs started trading on Kazakhstan’s Astana International Exchange (AIX) in late July. This move is aimed at potentially enhancing liquidity, especially for international investors, and reflects Ozon’s adaptive approach amid changes in the global financial landscape.
The delisting from Nasdaq marks a significant shift for Ozon in its international trading presence. As the company navigates evolving market dynamics, this strategic move positions Ozon for continued growth and enhanced liquidity opportunities. Explore Ozon’s strategic initiatives and its evolving role in the global e-commerce landscape.