Russian real estate classifieds provider Cian going public in US


Russian online real estate ads provider Cian has filed for an initial public offering (IPO) in the US.

Cian plans to dual list on both the New York and Moscow stock exchanges, the company said in a prospectus filed Wednesday with the US Securities and Exchange Commission (SEC).

Shares will trade under the symbol “CIAN” in New York and “MOEX” in Moscow.

Larnaca, Cyprus-based Cian plans to retain its status as a controlled company. The New York Stock Exchange and Nasdaq define a controlled company as a company of which more than 50% of the voting power for the election of its directors is held by a single person, entity or group.

Platform touted as Russia’s largest

Cian’s advertising platform looks and functions like popular North American property listings websites Zillow and Zumper. The Cian platform as the largest in the Russian real estate market, according to the company.

In the first half of 2021, Cian had approximately 2.1 million listings…

Read more…