OZON - We are all waiting to sell

Credit to @EV1 for finding this article from Forbes:

On Monday, Ozon Holdings issued a statement to stress that it is not subject to any sanctions at the moment, while noting “there are no regulatory restrictions on the ability of U.S. persons to acquire and trade in Ozon’s securities, and non-U.S. persons are not exposed to any U.S. secondary sanctions risks in connection with such transactions.”

We primarily operate in Russia, and over 95% of GMV including services is generated in Russia. Over 90% of our buyers and sellers are also located in Russia.”

The company claims strong liquidity, with approximately 80% foreign exchange liquidity, plus “sufficient ruble liquidity for our current day-to-day operations”.

Ozon has also filed a request to the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department to remove Ozon Bank from the Specially Designated Nationals and Blocked Persons List “since Ozon Bank is not linked to Sovcombank.”

Ozon did, however, concede that its business is likely to be indirectly impacted by sanctions, particularly if they have a continued impact on the Russian economy. That means both trading volumes and difficulties raising capital, which could hit investment into infrastructure expansion and operations.

Ozon expects to release its full-year 2021 financial results on April 5. They are unlikely to make pretty reading.


Ok if theres no restrictions for us whats the deal why we been on pause?

From Market Watch - “Ozon said early Friday that if the trading halt of its stock lasted to March 8, a “Delisting Event” could be triggered under terms of its $750 million, 1.875%, senior unsecured convertible bonds due 2026.”



Received the following message from my broker (Swissquote - Swiss based Broker)

We kindly inform you that due to the current situations the tradability on Russian ADR’s and GDR’s is blocked. Therefore, all options are also included in this kind of restrictions.

This means for you, that an automatic execution will not occur and the options are expected to be cash settled. The amount and pay date are yet unknown.

I called and she pointed out that OZON (and others) were halted for regulatory concerns. She simplified it to me in a way that, at least in Switzerland, it is illegal do have any activities (including exercising) related to these stocks.

Edit: I just quote the email and the call center lady here. Take it as her interpretation, no need to panic.


update on OZON halt


Appreciate this. Would expect OZON to reply pretty quickly as they did last time.

Today’s March 8, waiting for this Delisting Event news

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