Cyan approved the policy for the first dividends in the company’s history

“MCAO “Cian” is in the final stage of preparation for obtaining public status: the board of directors and the required committees have been formed in accordance with the rules of listing on the Moscow Stock Exchange, the regulations of the committees have been drawn up and internal policies, including dividends. approved,” the statement says.

Clarifies that 60% to 100% of MCAO Cyan’s adjusted net profit for the corresponding period will be allocated to payments to shareholders.

• According to its own data, according to the results of the three quarters of 2024, the group’s revenue increased by 15% year-on-year, to 9.6 billion rubles, and adjusted EBITDA increased by 13% year-on-year, to 2.3 billion . rubles. The profit during the indicated period amounted to 1.7 billion rubles.

In addition, once the restructuring is completed, special dividends may be paid through the distribution of accumulated cash no earlier than the second half of 2025. The decision to pay will require the approval of the board of directors and shareholders of MCAO Cian, and will also depend on the financial performance of the group, market conditions and regulatory restrictions.

In the near future, the service plans to submit to the Bank of Russia a prospectus on MKAO Cyan shares, registration of which is expected in January 2025. After going public, the group hopes to announce an exchange of shareholders of Cian PLC.

The platform is considering the possibility of launching a share buyback program for MKAO “Cyan” after the start of its trading on the Moscow Stock Exchange. It is assumed that the buyback will be financed with the money accumulated by the group. If the buyback program is approved, its parameters will be announced separately.

The holding company Cian Technology Ltd, registered in Seychelles, submitted registration documents in the Kaliningrad region at the end of August. Following the restructuring, the group intends to obtain independent public limited company status and submit an offer to shareholders to exchange shares “subject to applicable regulatory restrictions.”

The company announced plans to move to Russia in April. The reasons were “the current macroeconomic, geopolitical and regulatory situation”, interruptions that affect the operation of the infrastructure to account for shareholder rights and agreements, as well as the delisting of the New York Stock Exchange in 2023.