Ozon begins voluntary delisting from NASDAQ – Kommersant
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Ozon (MOEX: OZON) has decided to delist its American Depositary Shares (ADS) from the NASDAQ American Stock Exchange and plans to file a form triggering this process by October 30. This is stated in the message on website companies.
“We have decided to independently delist the securities from the exchange because we have exhausted all available avenues for filing appeals against the delisting decision. We have no reason to believe that trading of ADS Ozon on NASDAQ will be resumed,” the material says.
The press service added that the decision to leave the American exchange is aimed “at reducing the costs associated with reporting according to the standards of the US Securities and Exchange Commission.” The company has already notified the US exchange of its intention to voluntarily delist its ADS from the Nasdaq Global Select Market.
Delisting, according to the company, will not affect operations and financial stability. The circulation of Ozon securities will continue on the Moscow Exchange (MOEX: MOEX) and the Astana International Exchange (AIX).
Trading of ADS Ozon on NASDAQ was suspended on February 28, 2022. On March 15, 2023, NASDAQ notified the company of its intention to delist Ozon ADS. Ozon appealed NASDAQ’s delisting decision twice, but both appeals were denied.
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