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Cian PLC (NYSE: CIAN), a leading online real estate classifieds platform in Russia, provided an update on the impact of recent geopolitical developments. The company states it is not subject to sanctions from the U.S., UK, EU, or other nations, and continues to operate normally. However, Cian warns that ongoing geopolitical conflicts could potentially disrupt future operations and financial results. The company is actively monitoring market developments to mitigate impacts and ensure safe operations for employees.
Cian PLC (NYSE: CIAN) has announced the acquisition of SmartDeal, a leading e-registration services provider in Russia, by its subsidiary iRealtor LLC. The acquisition aims to enhance Cian's digital transaction offerings and strengthen its B2B services, following a partnership that began in 2021. SmartDeal's innovative platform facilitates seamless e-registration, a growing demand in the real estate market. The deal is pending customary closing conditions and regulatory clearance, marking a strategic move to expand market presence and improve service delivery in online real estate transactions.
Cian PLC (NYSE: CIAN) reported a 44% year-on-year revenue increase in Q3 2021, reaching RUB 1,557 million ($21.4 million). Adjusted EBITDA surged 78% to RUB 151 million ($2.1 million), with a margin improvement of 1.8 ppt to 9.7%. However, the net loss widened by 25% year-on-year, amounting to RUB 299 million ($4.1 million). Core Business revenue also grew 41% to RUB 1,470 million, supported by a strengthened monetization strategy and a successful launch of new services like Cian.Transaction.
Cian PLC, a leading online real estate classifieds platform in Russia, will host a conference call and webcast on November 24, 2021, at 8:30 a.m. ET to review its third quarter 2021 financial results. A press release detailing these results will be shared before the market opens on the same day. Cian ranks among the top ten online real estate classifieds globally, with over 2.1 million listings and an average user monthly visit of 20 million in the first half of 2021.
Cian PLC, a top online real estate platform in Russia, announced its IPO pricing of 18,213,400 American Depositary Shares (ADSs) at $16 each. Of these, 4,042,400 ADSs are offered by Cian, while 14,171,000 are from selling shareholders. The underwriters also hold a 30-day option for an additional 2,732,010 ADSs. Trading is set to begin on November 5, 2021, on the New York Stock Exchange and Moscow Exchange, with the offering expected to close on November 9, 2021. Morgan Stanley, Goldman Sachs, and J.P. Morgan are the main underwriters.