Cian Plc, the Cyprus-registered holding company of the eponymous Russia-based real estate marketplace, appears set to list its American Depositary Shares (ADSs) — each representing one ordinary share of Cian Plc — on the Moscow Stock Exchange.

The company has filed its Prospectus of Foreign Securities in relation to its ADSs for registration with the Central Bank of Russia, as well as other documents required for listing on the Moscow Exchange.

This filing is seen as a step towards Cian’s re-domiciliation from Cyprus to Russia. If approved by the regulator, it will allow uninterrupted trading on the Moscow Exchange while the company resolves legal issues related to the move.

Trading in Cian’s ADSs on the New York Stock Exchange (NYSE) was halted on February 28, 2022 after the Russian invasion of Ukraine but continued on the Moscow and St Petersburg Exchanges. They were delisted from the NYSE on 31 July, and, on 20 Sept, the company asked the U.S. Securities and Exchange Commission to terminate the registration of its ADSs.

In the first quarter of 2023, Cian had over 1.9 million property listings on its marketplace and monthly audience with an average of 19 million unique monthly visitors. It ranks among the top ten most popular property portals globally in terms of traffic, based on SimilarWeb data for August 2023.

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