ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces its intention to cancel the listing of its global depositary receipts (GDRs) on the London Stock Exchange (LSE). The decision was taken on 17 July 2023 at a meeting of the Company’s Board of Directors.
Etalon Group has been listed on the Main Market of the London Stock Exchange since 2011. In connection with the suspension of trading in the Company’s depositary receipts from 3 March 2022, Etalon Group requested that the UK Financial Services Authority (FCA) cancel the listing of the Company’s GDRs, issued under Regulation S (ISIN US29760G1031) and Rule 144A (ISIN US29760G2021), and that the London Stock Exchange cancel the admission of the GDRs to trading on the Main Market of the London Stock Exchange.
In accordance with Listing Rule 5.2.8, 16 August 2023 will be the last day the GDRs are listed on the London Stock Exchange. Therefore, the LSE Listing Cancellation becomes effective as of 8:00 a.m. (London time) on 17 August 2023.
In July 2023, the Bank of Russia decided to register a prospectus for the Company’s GDRs 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 and to allow Etalon Group’s GDRs to be publicly traded in Russia. Therefore, the Company completed the process of changing the basis for its listing on Moscow Exchange. Following the LSE listing cancellation, the Company will maintain its GDR listing on the regulated market of Moscow Exchange.
The GDR programme remains in force and is operational. GDR holders may exercise their rights under this security in full.
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/en/news/.
IR Team
About Etalon Group
Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company develops real estate projects for the middle class in Moscow, the Moscow region and St Petersburg. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 37 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. Since its foundation, Etalon Group has delivered 9.2 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates 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 6,000 people.
Etalon Group’s total assets comprise 27 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.5 million sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2024 was RUB 305 billion.
In 2024, Etalon Group’s new contract sales totalled 699 ths sqm, or RUB 146.2 billion.
The Company’s revenue in 2024 amounted to RUB 131 billion, with EBITDA of RUB 27.6 billion.
Etalon Group shares are traded on the Moscow Exchange (ticker ETLN) and have been included in the Level 2 quotation list since September 2025.