Cian, which provides a platform for online real estate listings and other services in Russia, raised $291 million by offering 18.2 million ADSs (78% secondary) at $16, the high end of the range of $13.50 to $16.
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.
Cian plans to list on the NYSE under the symbol CIAN. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Renaissance Securities, and VTB Capital acted as joint bookrunners on the deal.
