OZON, the online marketplace, reported that Nasdaq notified the company about a mandatory delisting. The communication followed a suspension of trading that began on February 28, 2022, and it set in motion a formal process to remove American depositary shares from the U.S. market. The notice has prompted OZON to review its reporting practices and its adherence to both quantitative and qualitative listing criteria that Nasdaq expects from listed entities in the United States.
According to the press service, OZON maintains that it has fully met all applicable reporting obligations and complied with the Exchange’s listing requirements. The company asserts that it has responded to all additional information requests from Nasdaq since the trading suspension, demonstrating ongoing transparency to the market while the delisting action is underway. OZON emphasizes that neither U.S. nor European officials have indicated sanctions against the company in this context, though the delisting decision remains a matter of Nasdaq policy and procedure.
The press release also stated that the delisting of the company’s American depositary shares will be conducted in accordance with Nasdaq Rule 5101, which governs delistings and the subsequent steps for converting and handling existing ADRs. OZON expressed its intention to formally contest Nasdaq’s decision and to pursue all available avenues to address the delisting, underscoring its commitment to defending investor interests and ensuring that stakeholders receive clear and timely information throughout the process.
Earlier reporting had indicated that Binance, the cryptocurrency exchange, was considering a broader strategic shift away from American partners. This development added context for observers tracking OZON’s international partnerships and the regulatory scrutiny surrounding cross-border listings. While the specifics of any ongoing negotiations or conclusions remain subject to regulatory and corporate disclosures, OZON’s leadership has repeatedly highlighted its focus on maintaining robust compliance practices and fulfilling disclosure duties as market conditions evolve.
Industry analyses note that delistings, while often contentious for the company involved, are not uncommon in markets with evolving regulatory regimes and shifting investor bases. For OZON, the process will involve coordinating with Nasdaq to ensure orderly transition arrangements for ADR holders, including potential guidance on the withdrawal of listings, handling of existing certificates, and communications that minimize disruption for traders and institutions holding OZON securities. The outcome will depend on the company’s ability to meet continuing obligations during the delisting window and Nasdaq’s assessment of whether the criteria for continued listing remain unmet or temporarily in a state that warrants capital market actions.
Market observers caution that delisting can have broad implications for liquidity, access to U.S. capital markets, and the company’s strategic options in North American and international arenas. They also point out that delisting does not automatically negate a firm’s underlying business value or its achievements in other regions. Investors are advised to monitor official announcements from Nasdaq and OZON for definitive timelines, procedural steps, and any subsequent communications detailing transition plans, potential price movements, and the availability of alternative trading venues or local listings that could absorb the trading activity generated by the ADRs.
As the situation unfolds, the central questions for stakeholders revolve around the pace of the delisting process, the precise criteria Nasdaq determines to be unmet, and the company’s response strategy to maintain investor confidence. OZON has reiterated its dedication to comprehensive disclosure and adherence to applicable laws, signaling that the organization intends to navigate the delisting with careful attention to governance standards and market expectations. The next updates from Nasdaq and OZON will be critical for assessing the impact on shareholder value and the long-term positioning of OZON within the global e-commerce landscape disclosed in official statements and market disclosures attributed to the parties involved.