The board of directors of Cian Group IPJSC, the operator of the largest Russia-based real estate marketplace has recommended to shareholders the pay-out of dividends for the first nine months of 2025 in the amount of RUB104 per ordinary share. December 12 was proposed as the date for compiling the list of persons entitled to receive dividends. A shareholder general meeting to consider the proposal has been convened for December 1.
Cian CEO Dmitry Grigoriev clarified that for technical reasons, the company will not be able to pay out the entire amount of accumulated operating profit at this time, and he expects the next dividend to be paid in mid-2026 at about RUB50 or more per share, taking into account the accumulated operating profit remaining at the end of 2025, as well as the profit earned in 2026.
Additional rounds of exchange
The Group’s shareholder structure retains depository receipts of Cian Plc (now CN IJSC), whose holders were unable to participate in the main exchange for shares of Cian IJSC this spring. To ensure they receive a special dividend, the company announced the decision to conduct additional rounds of exchange of CN IJSC shares for shares of the publicly traded Cian IJSC. These rounds will take place after the automatic and forced conversions, the terms and conditions of which the company will announce separately.
Exchange after automatic conversion
On October 21, the automatic conversion of Cian PLC depositary receipts into shares of CN IJSC began. This procedure only affects those depositary receipts held by Russian depositories. The automatic conversion is expected to be completed no later than November 12, 2025.
Next, shareholders of MKAO CN will be offered an exchange of their shares for shares of Cian IJSC. This process is planned to be completed before the dividend cutoff date of December 12, to provide exchange participants with the opportunity to receive a special dividend.
Exchange after forced conversion
The forced conversion applicable to Cian Plc’s receipts in foreign depositories has not yet begun. According to Russian law, it cannot be initiated until December 15, i.e., after the dividend cutoff date.
Therefore, participants in the forced conversion of receipts into shares of CN IJSC and their subsequent exchange for shares of Cian IPJSC will be entitled to compensation for the special dividend amount. This compensation will be paid as part of the exchange of CN IJSC shares for shares of Cian IPJSC, and the details will be disclosed at the launch of the exchange, the company said.
