Russian Real Estate Database Cian Targets US IPOs, Sources Says

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MOSCOW (Reuters) – Russia’s Cian real estate database, one of the largest in the country, is planning an initial public offering (IPO) in the United States this fall, two financial market sources said Wednesday.

Private company Cian has hired Morgan Stanley, Goldman Sachs, JPMorgan, UBS, Renaissance Capital and Bank of America to arrange for the deal, which could be dual-listed in Moscow, the sources added.

One of the sources said that the offer could be about $ 300 million.

Cian, Morgan Stanley, Goldman Sachs, JPMorgan, Renaissance Capital and Bank of America declined to comment.

UBS did not immediately respond.

Report by Olga Popova and Tatiana Voronova; Written by Katya Golubkova / Alexander Mozgov; editing by David Evans

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