Debevoise Advises Ozon in its $990 Million IPO

27 November 2020

Debevoise & Plimpton LLP has advised Ozon Holdings PLC (“Ozon”), a leading Russian e-commerce platform, in its initial public offering of 33 million American depositary shares (“ADSs”) representing 33 million ordinary shares at a price to the public of $30.00 per ADS, for gross proceeds of $990 million (or $1,273.5 million including the underwriters’ overallotment option and concurrent private placements).

The ADSs began trading on the Nasdaq Global Select Market under the ticker symbol “OZON” on November 24.

The offering represents the largest ever initial public offering of primary securities by a Russian business on a U.S. exchange.

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The Debevoise team advising Ozon was led by London partner James Scoville and Moscow partner Alan Kartashkin, and included international counsel Vera Losonci, and associates Evgenii Lebedev, Charles Low, Timur Ochkhaev, and Yilong Luo. Tax advice was provided by partner Cécile Beurrier, counsel Huey-Fun Lee, and associate Sabrina Hsieh.