Ozon shares fall 10% after drone attacks on marketplace warehouses

Shares of Russian marketplace Ozon fell during morning trading on the Moscow Exchange on August 24 following a series of drone attacks on the company's logistics facilities.

According to Russian media, cited by Report, Ozon shares fell 12.71% from Friday's closing price to 2,600.5 rubles (about $32) per share. Compared with the end of Saturday's trading session, the decline was nearly 10%.

The sharp drop in Ozon's share price began on Saturday, when the shares fell 3.02% to 2,889 rubles following reports of a drone attack on the company's warehouses.

A similar trend was seen in the shares of Sistema, which owns a 31.8% stake in Ozon. Its shares fell 10% on Monday morning.

On the night of August 22, Ozon logistics centers in Russia's Samara and Orenburg regions were damaged in a massive drone attack, prompting the evacuation of more than 300 employees. Overnight, drones attacked the company's warehouses in southern Russian cities and regions, including Krasnodar, Makhachkala, Adygeysk and Nevinnomyssk.

Other News