Ozon shareholders decided to re-register the company from Cyprus to Russia

Ozon shareholders have decided to re-register the company in the Russian jurisdiction, according to its website on December 27.

"Ozon shareholders decided to change jurisdiction from Cyprus to Russia at the general meeting on December 27. The company will be registered in a special administrative district on the island of Oktyabrsky in Kalinigrad region in the form of an international company of the public joint stock company Ozon (ICPAO Ozon)," the release said.

Company representatives predict that the redomiciliation process will be completed by the end of 2025. The procedure involves a complete transfer of the entire shareholder structure to Russia. Shareholders will participate on the same basis.

Ozon's press service noted that the situation will not affect the company's development strategy and operational activities, and as a result of the change of jurisdiction, regulatory risks in the key market will be reduced and intra-group transactions will be easier.

It is expected that after the company is registered in Russia, trading in its securities on the stock exchange will be halted for no more than a few weeks for the conversion of depositary receipts into shares. Investors will be informed about this and other key stages.

Earlier in the day, the Ministry of Economic Development told Izvestia about the growing number of ATS residents on the Russky and Oktyabrsky islands. In the latter case, the number of international holding companies increased by 23% and reached 327. ATSs allow foreign companies with Russian roots to move to the Russian jurisdiction and continue operating in Russia without fear of sanctions.