November 05, 2021
Latham & Watkins advised Cian PLC, a
leading online real estate classifieds platform in Russia, on the pricing of
its initial public offering of 18,213,400 American Depositary Shares (ADSs),
each representing one ordinary share of Cian, 4,042,400 of which are being
offered by Cian and 14,171,000 of which are being offered by certain selling
shareholders of Cian (Selling Shareholders), at a price to the public of US$16
per ADS. The Selling Shareholders have also granted the underwriters of the IPO
a 30-day option to purchase up to an additional 2,732,010 ADSs, at the initial
public offering price, less underwriting discounts and commissions.
The ADSs are expected to begin trading on
the New York Stock Exchange and the Moscow Exchange on November 5, 2021 under
the symbol “CIAN”.
The Latham team was led by corporate
partners David Stewart and Olga Ponomarenko, with associates Daria Latysheva, Jennifer
Gascoyne, Matthew Fisher, Viktoria Petukhova, Laura Harper, Alexander Fedorkov,
Nina Malkova, and Anton Vologin. Advice on benefits matters was provided by partner Jennifer Pepin; and on tax matters by partner
Jiyeon Lee-Lim and associate Lauren Bewley.