9 Apr 2024 16:18

Ozon expects to begin re-domiciliation process in 2024 - CFO

MOSCOW. April 9 (Interfax) - Ozon plans in 2024 to initiate the process for re-domiciling the holding company from Cyprus, the marketplace's CFO Igor Gerasimov said at an event to present the company's financial results for 2023.

"We are striving to do this. I think that we will take a number steps during the year to bring us closer to implementing our relocation plan. There is a plan, and everyone supports it at all levels. However, there are also objective obstacles and restrictions owing to which we cannot implement more quickly," Gerasimov said.

Cyprus-based Ozon Holdings Limited is currently the marketplace's holding company. Gerasimov first reported in August 2023 that Ozon was taking steps to change the jurisdiction of the Cypriot legal entity.

Ozon's shares currently trade on the Moscow Exchange and the Astana International Exchange (AIX) of the Astana International Financial Centre (AIFC). The company's shares also previously traded on the NASDAQ. However, the U.S. trading platform decided to delist Ozon's shares forcibly amid the events in Ukraine.