Russian e-commerce firm Ozon said on Tuesday it had lost the latest appeal against the delisting of its American depositary shares (ADSs) from Nasdaq, dampening faint hopes that its securities could remain listed on the U.S. exchange. Ozon, one of Russia's top e-commerce companies, raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Trading in Ozon's securities on Nasdaq was suspended soon after Russia despatched troops to Ukraine in February 2022, as were Russian company listings on the London Stock Exchange.
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