On Friday, Moscow Exchange (MOEX), the largest exchange group in Russia, announced that Cian PLC started trading its American Depositary Shares (ADSs) under the ticker CIAN. According to the press release, the ADSs of the firm were included in the exchange group’s Level 1 quotation, whose trading and settlements are carried out in RUB.
The listing coincided with the one that took place in the New York Stock Exchange (NYSE), MOEX noted. CIAN’s initial price was set at $16 per ADS. Bookrunners for the IPO included Morgan Stanley, Goldman Sachs, J.P. Morgan, Bank of America, Renaissance Capital, VTB Capital, Alfa-Bank, Raiffeisen Bank and Tinkoff.
“The listing of such successful companies as Cian on Moscow Exchange validates our reputation as a key platform for attracting investment from various sectors of the economy. Cian’s IPO continues the trend towards further diversification of the Moscow Exchange indices. This year, new issuers from industries such as insurance, healthcare, retail and forestry entered the market,” Yury Denisov, Chairman of the Executive Board at Moscow Exchange, commented on the listing.
CIAN CEO Comments
Moreover, Maim Melnikov, CEO of CIAN, issued the following statement: “We are delighted to welcome our new shareholders and thank them for their trust in Cian. Today’s IPO is an important step in the development of the company and a significant achievement of the entire Cian team. From when the company was launched in 2001, it has grown rapidly and become a household name in the Russian real estate space. Today Cian occupies leading positions in the real estate classifieds segment across Russia’s largest regions and is developing new technological products and services.”
Recently, MOEX reported a decline in total trading volumes across all the markets during October to RUB 84.9 trillion from RUB 89.7 trillion seen in the same period last year. The figures were calculated based on 21 trading days in the month.
