Ozon Holdings has indicated that the delisting of its shares from Nasdaq doesn’t impression its core enterprise operations.
Ozon Holdings Plc (NASDAQ: OZON), a number one Russian e-commerce platform, is the most recent perpetrator of the worldwide geopolitical disaster, notably because of the 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 alternate on February 28, 2022, introduced that it acquired a delisting discover from the alternate.
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 odd share of Ozon Holdings, on March 15, 2023. Nonetheless, Ozon Holdings have indicated that it was not pretty handled because it has absolutely complied with all relevant reporting obligations and qualitative and quantitative itemizing standards of the Nasdaq alternate.
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 impression 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 varied companions on our platform. We additionally notice that Ozon 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 almost $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 mentioned in an announcement. “We now have, after all, been taking a look at varied itemizing choices since February 2022, when buying and selling on Nasdaq was suspended, and we undoubtedly plan to take care of an inventory on Moscow Alternate.”
Geopolitical Stress Lags International Financial system
Following the Russian invasion of Ukraine’s territory, world navy superpowers have been divisive. Already, a number of firms are set to be delisted from the Nasdaq alternate as a result of geopolitical variations. Notably, Web large 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. In consequence, European firms 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 minimize 80 p.c 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 critical check for Russia within the gasoline facet,” Yury Shafranik, Russian gasoline and power minister from 1993 to 1996.
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