Cian PJSC launches final phase of share swap for GDR holders
Cian PJSC Announces Final Stage of Share Exchange for Former CIAN GDR Holders
Cian PJSC has launched the final phase of a share swap for former holders of Cian plc global depositary receipts (GDRs), which were forcibly converted into shares of CN PJSC. The exchange will proceed at a one-to-one ratio with no cash settlement. Applications will be accepted until May 21, with the swap to be completed by June 10.
The company's press service announced that shareholders of CN PJSC will have the opportunity to exchange their shares for Cian PJSC stock and receive dividends at Cian PJSC's level. To participate, investors must submit applications either directly or through the brokers holding their shares.
"Shareholders of CN PJSC who do not take part in the exchange will forfeit their right to Cian PJSC dividends and will remain holders of shares that are not admitted to organized trading on the stock market," the company warned.
The exchange will be executed on a one-for-one basis without cash payments, Cian clarified. Applications will be accepted from April 22 to May 21, with the process finalized by June 10.
Following its redomiciliation from Cyprus to Russia, Cian has conducted multiple share exchanges. The company first announced its relocation to Russia in April 2025, when its holding structure shifted from Cyprus-based Cian plc to Cian Technology Ltd., registered in the Seychelles. The latter acquired roughly 70% of the Cypriot entity before reregistering in Russia as Cian PJSC, based in the Kaliningrad Region's special administrative district (SAR). The move was completed in October 2025, at which point Cian began the automatic conversion of Cian GDRs into CN PJSC shares. In December, it initiated the mandatory conversion of CN depositary receipts into ordinary shares of Cian PJSC.
