Etalon to Obtain Primary Listing Status on MoEx

Etalon Group PLC

15 May 2023

 

15 May 2023

Etalon Group Announces Intention to Obtain Primary Listing Status on Moscow Exchange

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that its Board of Directors decided on 12 May 2023 to apply for a primary listing on Moscow Exchange.

In 2011, Etalon Group received its primary listing on the main market of the London Stock Exchange. Since 2020, the Company's global depositary receipts (GDRs) have been traded, under the ticker ETLN, on the main market of Moscow Exchange and included in its Level 1 quotation list.

The Company plans to change the status of its listing on Moscow Exchange to primary by registering a prospectus for its existing GDRs with the Bank of Russia in accordance with Regulation of the Bank of Russia No. 714-P of 27 March 2020 and Directive of the Bank of Russia No. 5951-U of 29 September 2021 in the context of the procedure for receiving permission from the Bank of Russia to allow existing GDRs to be publicly traded in Russia. The change of Etalon Group listing status to primary is subject to approval by the Bank of Russia.

The procedure for changing the listing status on Moscow Exchange will not require any additional actions on the part of holders of the Company's GDRs and will not place any restrictions on trading in Etalon Group's GDRs.

This and other announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/.

Contact information

Etalon Group

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About Etalon Group

Founded in 1987, Etalon Group is one of Russia's largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 35-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has delivered 8.6 mln sqm of real estate.

Thanks to its integrated business model, Etalon Group is able to create added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs more than 5,800 people, and its nationwide sales and marketing network covers 35 regions of Russia.

Etalon Group's assets comprise 38 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.4 mln sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2022 was RUB 288 billion.

In 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7 billion, not including accumulated new contract sales at YIT Russia as of its acquisition.

The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB 16.5 billion.

Etalon Group's GDRs have been listed on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.

 

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