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Cian PLC will sell IPO shares for $ 16 each

Russian online real estate classifieds platform Cian PLC will sell 18,213,400 American Depositary Shares for $ 16 each during its IPO, the company announced on Friday, November 5.

Cian will offer 4,042,400 of these shares while some existing Cian shareholders will offer 14,171,000. Those shareholders who sell their shares are also granting the lead managers of the IPO a 30-day option to purchase up to 2,732,010 additional shares at the IPO price.

Cian’s shares will trade on the New York Stock Exchange and Moscow Stock Exchange under the symbol CIAN beginning Friday, and the IPO is expected to close on Tuesday (November 9th) subject to customary closing conditions.

The lead book running managers for Cian’s IPO are jointly Morgan Stanley, Goldman Sachs International and JP Morgan. BofA Securities, Renaissance C -ital, VTB C -ital, Alfa CIB, AO Raiffeisenbank and Tinkoff also act as joint bookrunners.

Related: Liquidity Services buys state real estate platform Bid4Assets

In terms of real estate-related news, business and government surpluses, Liquidity Services eCommerce marketplace will acquire Bid4Assets digital real estate platform, which will target government real estate auctions, including foreclosure sales and sheriff sales.

Bid4Assets is the first digital public action platform for the sale of real estate. The company has sold more than $ 1 billion in assets to more than 800,000 registered buyers and, upon closing, will become a division of Liquidity Services. The management team and the employees of Bid4Assets also remain in the company.

See also: Bitcoin Daily: Russian Central Bank Delays Payments For Exchanging Digital Assets; Christie’s is auctioning NFTs

In September, the Bank of Russia announced it would work with commercial banks to delay payments on digital asset exchanges, with the goal of limiting “emotional” crypto purchases by unqualified investors, a move that will affect peer-to-peer (P2P) could and OTC trading platforms according to Bitcoin.com.

Bank of Russia will not support increasing access to cryptocurrency markets for investors across the country and is skeptical about acquiring crypto.



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