On Friday, the Moscow Exchange (MOEX), Russia’s largest stock exchange group, announced that Cian PLC had started trading its American Depositary Shares (ADS) under the symbol CIAN. According to the press release, the company’s ADSs have been included in the level 1 listing of the exchange group, whose transactions and settlements are carried out in RUB.
The listing coincided with one on the New York Stock Exchange (NYSE), MOEX noted. CIAN’s initial price was set at $ 16 per ADS. The IPO bookkeepers included Morgan Stanley, Goldman Sachs, JP Morgan, Bank of America, Renaissance Capital, VTB Capital, Alfa-Bank, Raiffeisen Bank and Tinkoff.
“The listing of companies as successful as Cian on the Moscow Stock Exchange confirms our reputation as a key platform for attracting investment from various sectors of the economy. Cian’s IPO continues the trend towards increased diversification of Moscow Stock Exchange indices. This year, new issuers from sectors such as insurance, healthcare, retail and forestry have entered the market, ”commented Yury Denisov, chairman of the board of the Moscow Stock Exchange.
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Comments from the CEO of CIAN
In addition, Maim Melnikov, CEO of CIAN, made the following statement: “We are delighted to welcome our new shareholder and to thank him for the confidence he places in Cian. Today’s IPO is an important step in the development of the company and a significant achievement for the entire Cian team. Since the company’s launch in 2001, it has grown rapidly and has become a household name in the Russian real estate space. Today, Cian occupies leading positions in the real estate classifieds segment in the largest regions of Russia and develops new technological products and services.
Recently, MOEX reported a drop in the total volume of transactions in all markets in October to 84.9 trillion rubles, from 89.7 trillion rubles in the same period last year. The figures taken into account 21 trading days.
