Just weeks after warning of a potential bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.”
“We see loyalty on the part of [securities holders], working groups have been created, so there is no question of default or bankruptcy of the company today,” Karpova said at a forum in Moscow.
Trading of Ozon’s shares on Nasdaq — 14 months after a triumphant IPO — was suspended on Feb. 28. Since suspension lasted for more than seven days, the company’s $750 million unsecured convertibles bonds due in 2026 could become subject to a “delisting event.”
