Ozon has begun voluntary delisting from the NASDAQ stock exchange – Kommersant
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Ozon (MOEX: OZON) has begun the voluntary delisting of American Depositary Shares (ADS) from the NASDAQ American Stock Exchange. This is stated in the material 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 Ozon ADS on NASDAQ will be resumed,” the Ozon press service said.
The company has already notified the US exchange of its intention to delist its ADS from the NASDAQ Global Select Market. By October 30, Ozon will submit the necessary documents to initiate the delisting procedure.
The press service said in a statement that the exit from the American exchange is aimed “at reducing costs” associated with reporting. Delisting, according to Ozon representatives, 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 Ozon shares on NASDAQ was suspended on February 28, 2022. On March 15, 2023, NASDAQ notified the company of its intention to delist its securities. Ozon appealed the decision of the American exchange twice, but was refused both times.
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