Ozon Holdings PLC Notified of Anticipated Delisting from The Nasdaq Stock Market
On March 15, 2023, the Nasdaq Stock Market (NDAQ) announced that Ozon Holdings PLC (OZON) faces delisting due to non-compliance with listing standards.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
On March 15, 2023, the Nasdaq Stock Market (NDAQ) announced that Ozon Holdings PLC (OZON) faces delisting due to non-compliance with listing standards. The delisting will take effect on March 24 unless Ozon appeals to a Listing Qualifications Hearings Panel. Until the appeal is resolved, trading of Ozon's securities will be halted. Nasdaq will file a Form 25 with the SEC to finalize the delisting, effective ten days post-filing. Following delisting, Ozon's securities may transition to the over-the-counter market. Investors can refer to public filings for additional details regarding this situation.
Positive
- None.
Negative
- Ozon Holdings securities are set for delisting from Nasdaq, indicating potential financial instability.
- Trading of Ozon securities will be halted until the appeal process is resolved, limiting liquidity for investors.
- If delisted, Ozon may struggle to attract investors in the over-the-counter market.
Details
News Market Reaction – NDAQ
The recorded move for NDAQ in the trading session of this news was +2.31%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, March 15, 2023 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market (Nasdaq: NDAQ) announced today that it has notified Ozon Holdings PLC (Nasdaq: OZON) that its securities will be delisted from the Nasdaq Stock Market LLC on March 24, unless the company appeals to a Listing Qualifications Hearings Panel. The securities will remain halted, and unavailable to trade, until any appeal is resolved, and the securities are removed from Nasdaq. Following removal from Nasdaq the securities may be eligible for trading in the over-the-counter market.
Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.
-NDAQO-
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.