Ozon appeals Nasdaq decision to delist its shares

MOSCOW. March 22 (Interfax) - Ozon has filed an appeal of the decision by Nasdaq to delist the company's shares on the exchange.

Ozon said in a statement on Tuesday that the appeal was filed on March 21. An appeal must be heard within 45 days of receipt; pending a decision on the appeal by the special commission, delisting activities must be suspended.

"If the appeal is rejected, the company plans to resubmit it; the rules of the exchange give us this right," Ozon said in a statement.

On March 15, Nasdaq announced the delisting starting March 24, 2023 of the shares of a number of companies whose main businesses are conducted in Russia. In addition to Ozon, Headhunter , Qiwi , and Yandex received notifications. On the same day, the New York Stock Exchange announced the delisting of Cian Plc, owner of the Cian service.

Trading in the shares of these listed issuers was suspended on February 28, 2022, several days after the start of the conflict in Ukraine, and has not been resumed since.

On Monday, Yandex and Qiwi announced they had filed appeals against the Nasdaq decision.

Headhunter and Cian also announced their intentions to appeal the U.S. exchanges' decisions.