Ozon announced plans to voluntarily delist its American depositary shares (ADS) from the Nasdaq Global Select Market. The company is also going to deregister them with the US Securities and Exchange Commission (SEC), reported marketplace press service.
The company explained that the decision to independently exclude the securities is due to the fact that the limit on filing appeals about delisting has already been exhausted. According to Ozon, ADS trading on the Nasdaq is unlikely to resume.
The marketplace plans to launch the voluntary delisting procedure before October 30. The decision to exclude securities from the exchange list of the trading platform may come into force in 10 days.
Ozon noted that trading on Nasdaq was actually stopped more than 1.5 years ago. The Company expects that the delisting will not affect its financial stability and operating performance. Marketplace shares will continue to be traded on the Moscow Exchange (MOEX) and the Astana International Exchange (AIX).
The cost of Ozon depositary receipts at 13:03 Moscow time on the Moscow Exchange amounted to 2,741 rubles. – 1.5% less than at the close of main trading on October 19. On the Kazakhstan exchange AIX, the price of ADS marketplace was $16.8. Compared to the closing of trading on the previous day, the price did not change. The Moscow Exchange index by 13:03 Moscow time amounted to 2342.12 points (-0.4%), the International Astana Exchange – 1164.99 points (+4.63%).
Since the beginning of 2023, the cost of marketplace receipts on the Moscow Exchange has increased by 95.5%. The securities began trading on the AIX on September 19. Since that moment, they have risen in price by 26.4%. Since the beginning of the year, benchmarks have increased by 50.52% and 22.84%, respectively.
Nasdaq suspended trading of Ozon ADS on February 28, 2022. In March, the exchange notified the company of plans to delist. Ozon tried to appeal the decision of the trading platform twice, but was rejected in both appeals.