LECAP provided legal support to the registration of CIAN's "Russian" ADR prospectus to maintain its listing on the Moscow Exchange after delisting from the NYSE
On 11 December 2023, the Bank of Russia decided to register the prospectus of CIAN PLC American Depositary Receipts. LECAP ensured the preparation of the prospectus and interaction with the Bank of Russia and the Exchange during the registration stage.
On 15 March 2023, the NYSE ordered the delisting of depositary receipts of Russian companies, which included CIAN, and on the 1 August 2023, CIAN's securities were delisted from the NYSE.
In order to maintain the continuity of ADR listing on the Moscow Exchange, a prospectus was registered with the Bank of Russia to allow the depositary receipts to be publicly traded on the Moscow Exchange.
LECAP ensured the preparation of the prospectus and interaction with the Bank of Russia and the Exchange at the registration stage.