Marketplace Ozon says decides to delist from Nasdaq voluntarily

MOSCOW, Oct 20 (PRIME) -- Russian marketplace Ozon will file a form to delist its American depositary shares (ADSs) from the Nasdaq till October 30, the company said on Friday in a statement.

“We have decided on voluntary exclusion of the securities from the bourse since we have exhausted all available possibilities to appeal the delisting resolution. We have no ground to assume that trading in Ozon’s ADSs will resume on the Nasdaq,” Ozon said.

“This step is aimed at reducing costs related to reporting under the standards of the U.S. Securities and Exchange Commission.”

Ozon said it had already notified the Nasdaq Stock Market of its intention to delist the company’s ADSs from the Nasdaq Global Select Market and to deregister the ADSs.

The marketplace said the move will not impact its business operations. Its ADSs will continue to list on the Moscow Exchange and the Astana International Exchange.

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