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The company raised nearly $1 billion in an initial public offering (IPO) in 2020. However, it has since faced challenges due to geopolitical tensions and regulatory scrutiny. Despite removal from both the Nasdaq and the London Stock Exchange, Ozon maintains that its operations will remain stable.
Ozon’s decision to delist is motivated by a desire to reduce costs associated with compliance with U.S. Securities and Exchange Commission norms. The company does not anticipate a resumption of its American Depositary Shares (ADS) trading on Nasdaq.
Despite the delisting, the company’s ADSs will continue to be available on other global platforms. To enhance liquidity, Ozon began trading its ADSs on Kazakhstan’s Astana International Exchange (AIX) in late July 2023. The shares will also maintain their availability on the Moscow Exchange (MOEX), demonstrating the company’s resilience amidst changing market dynamics.
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