Russian Ozon Holdings Receives Notice of Shares Delisting from Nasdaq

Ozon Holdings Plc (NASDAQ: OZON), a number one Russian e-commerce platform, is the most recent perpetrator of the worldwide geopolitical disaster, significantly as a result of Ukraine invasion. With the most recent Russian act of aggression within the battle of Bakhmut, Ukraine’s western allies are tightening their sanction on Kremlin oligarchs. Notably, Ozon Holdings, which was suspended for buying and selling from the Nasdaq change on February 28, 2022, introduced that it obtained a delisting discover from the change.

Ozon Holdings Stays Optimistic regardless of Shares Delisting

Based on an official announcement by Ozon, the Nasdaq Inventory Market LLC gave the discover to delist the corporate’s American Depositary Shares, every representing one peculiar share of Ozon Holdings, on March 15, 2023. Nonetheless, Ozon Holdings have indicated that it was not pretty handled because it has totally complied with all relevant reporting obligations and qualitative and quantitative itemizing standards of the Nasdaq change.

The corporate has, nonetheless, indicated that the delisting of its shares on the Nasdaq doesn’t have an effect on its core enterprise operations.

“The discover of delisting doesn’t influence our enterprise operations. We proceed to actively develop and develop our core and adjoining verticals in addition to new merchandise and to serve our sellers, patrons, and numerous companions on our platform. We additionally be aware that Ozon just isn’t topic to any sanctions imposed by US or EU authorities,” the corporate noted.

The corporate has pledged its allegiance to buyers and clients regardless of the Nasdaq delisting. Furthermore, Ozon raised practically $1 billion in an preliminary public providing (IPO) in late 2020 throughout Covid-19.

“Going ahead, and in any situation, we act within the pursuits of our buyers,” Ozon stated in a press release. “We’ve got, after all, been taking a look at numerous itemizing choices since February 2022, when buying and selling on Nasdaq was suspended, and we positively plan to take care of an inventory on Moscow Trade.”

Geopolitical Stress Lags World Financial system

Following the Russian invasion of Ukraine’s territory, world army superpowers have been divisive. Already, a number of corporations are set to be delisted from the Nasdaq change resulting from geopolitical variations. Notably, Web big Yandex, recruiter Headhunter and fee service supplier Qiwi have all been notified of their anticipated delisting from Nasdaq.

However, Russian President Vladimir Putin opted to chop off Europe from its gasoline and oil provide. Because of this, European corporations that relied on the gasoline provide from Russia have been left dry. Moreover, companies that operated the gasoline business between the Kremlin and Europe have been flushed down the bathroom.  Notably, European Fee President Ursula von der Leyen estimated Russia lower 80 % of gasoline provides to the EU within the eight months after the battle started in Ukraine.

“In fact, the lack of the European market is a really severe take a look at for Russia within the gasoline side,” Yury Shafranik, Russian gasoline and vitality minister from 1993 to 1996.

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