Cian planning to re-domicile with listing in Russia; established new holding, preparing offer for minority shareholders

MOSCOW. April 22 (Interfax) - Cian's new holding company, Cian Technology Ltd, which is registered in the Seychelles, intends to re-domicile to Russia, Cian said in a disclosure.

Cian said that Cian Technology Ltd holds 69.94% of Cyprus-based Cian Plc [Cian's previous legal entity holding company] as of April 19.

The deal is a technical restructuring, Cian said in the press release shortly afterward. The real estate listing service's shareholders, whose shares are not in free float, own the Seychelles-based company.

"The reorganization has been structured as a securities exchange, resulting in shareholders, whose shares are not publicly traded, having exchanged their respective shares in the company for shares in Cian Technology," Cian said.

Cian Technology plans to re-domicile to Russia going forward, and to become a public company listed on the Moscow Exchange.

Cian Technology also intends to render a public exchange offer to shareholders.

"As currently expected and subject to applicable regulatory requirements, a public invitation to remit offers will be effected on commercial terms and conditions similar to an exchange involving non-public shareholders," Cian said. However, the terms and conditions of the exchange already conducted have not been disclosed to date.