Moscow Exchange stars trading CIAN’s ADSs at 1,211.60–1,250.60 rbl

MOSCOW, Nov 8 (PRIME) -- The Moscow Exchange has started trading American depositary shares (ADSs) of real estate classifieds online aggregator CIAN with the first deal struck at 1,250.60 rubles per share and later at 1,211.60–1,250.60 rubles compared to the IPO price of U.S. $16 per ADS, according to the bourse’s statement released on November 5.

CIAN’s capitalization reached $1.1 billion as the company sold 18.213 million ADSs.

A financial source told PRIME the book was oversubscribed by more than 10 times.

Trading also started on the New York Stock Exchange.

(71.4876 rubles – U.S. $1)

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