Russian Real Estate Platform Cian Prices US$291 Million NYSE IPO
Online real estate classified ad platform Cian PLC (NYSE: CIAN) started trading on the New York Stock Exchange and the Moscow Exchange on Friday. The Russian firm aims to raise approximately US$291.4 million in its debut on the big board.
The offering consisted of 18,213,400 American depositary shares at US$16.00 per ADS, which represents 1 ordinary company share. Out of these, 4,042,400 ADSs are being offered by the company and the remaining 14,171,000 ADSs are being offered by selling shareholders. The ADSs will be trading on the New York and Moscow exchanges under the symbol “CIAN”.
Morgan Stanley, Goldman Sachs International, and J.P. Morgan are acting as the joint lead bookrunners for the said offering. The underwriters were given a 30-day over-allotment option to purchase up to an additional 2,732,010 ADSs at the same IPO price.
The firm said that it had over 2.1 million listings available through its platform in the first half of 2021.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
