Ozon Holdings PLC is one of the first e-commerce companies in Russia, sometimes referred to as "the Amazon of Russia".
Established in 1998 as an online bookstore, Ozon was one of the three biggest online retail platforms in the country by 2019. It was named as the #3 most valuable Russian internet company of 2020 by Forbes.
Ozon Holdings PLC priced its initial public offering at $30.00 per American Depositary Share (ADS) on November 24, 2020, raising $990 million on the Nasdaq Global Select Market under the ticker symbol OZON.
Offer Price: $30.00 per ADS (above the targeted $22.50–$27.50 range)Gross Proceeds: $990 millionValuation: Approximately $6.2 billion at market debutExchange / Ticker: Nasdaq Global Select Market / OZONLead Underwriters: Morgan Stanley, Goldman Sachs, and CitigroupFirst-Day Performance: Shares jumped over 22% to close above $40 on day one.Following the geopolitical escalation in Ukraine, Ozon Holdings PLC was officially delisted from the Nasdaq. While the core business has continued to operate and grow within its regional markets, its structural relationship with international equity markets shifted entirely.
Delisting Timeline & Status
- February 28, 2022 (Trading Halt): Nasdaq suspended trading for Ozon and multiple other Russian-linked companies immediately following the outbreak of the Russia-Ukraine war.
- March–August 2023 (The Appeals): Nasdaq formally notified Ozon of its intent to delist the company. Ozon filed multiple appeals, but the Nasdaq Listing and Hearing Review Council ultimately upheld the decision.
- November 2023 (Official U.S. Delisting): Acknowledging that trading would not be reinstated, Ozon voluntarily moved to delist from Nasdaq to eliminate complex U.S. reporting costs. It formally deregistered and ended its U.S. Exchange Act obligations.
