Cian PLC, which provides an online platform for real estate services in Russia, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. The company plans to dual list on the Moscow Exchange under the symbol "CIAN."
Cian states that it is a leading online real estate classifieds platform in the Russian real estate classifieds market, ranking among the top ten most popular online real estate classifieds globally. In the 1H21, the company had approximately 2.1 million listings available through its platform and average unique monthly visitors of approximately 20.3 million, up from 16.5 million in 2020.
The Larnaca, Cyprus-based company was founded in 2001 and booked $69 million in revenue for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol CIAN. Cian PLC filed confidentially on June 28, 2021. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Renaissance Capital, and VTB Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
