Real estate search service "Cyan"

The CIAN real estate search service announced a price range for its IPO on the exchange in New York-from $ 13.5 to $ 16 for one American depository rally (ADS), the avenue says on the website of the US Securities and Exchange Commission (Sec).

The volume of placement will be 18.2 million ADS, of which almost 4.042 million intends to sell CIAN, another 14.171 million - its current shareholders. The structure of the transaction provides for an option of underwriters - if banks implement it within 30 days after an IPO, the volume of placement can grow to 20.945 million ADS. Based on the price range and the number of shares in circulation after IPO (69.4 million), the CIAN estimate will be from $ 0.9 to $ 1.1 billion.

• Morgan Stanley, Goldman Sachs International, JPMorgan, Bofa Securities, Renaissance Capital, Raiffeisenbank, Tinkoff and VTB Capital JSC were organizers. Goldman Sachs will also act as a selling shareholder, and Raiffeisenbank is the creditor of Cyan - part of the funds raised on IPO can be aimed at paying off obligations to him, follows from the avenue.
• Among the selling shareholders, in addition to Goldman Sachs, are the structures of Elbrus Capital, the founder of Cyan, Dmitry Demin and the former head of the service of Sergei Osipov.

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"Cyan" considers itself a leading service for the sale of real estate in Russia and a member of the world top 10. Last year, he graduated with the revenue of 3.97 billion rubles (+10%), with a loss of 627 million rubles (806 million rubles in 2019) and a debt of 728 million rubles. With what Cyan is going to accommodate now and what is afraid of, read here .