Etalon Group (the “Company”), one of Russia’s largest development and construction companies, announces the completion of its redomiciliation and the automatic conversion of Etalon Group PLC global depositary receipts (GDRs) into ordinary shares of IPJSC Etalon Group1.The Company has also started preparations to move its shares to the Moscow Exchange’s Level 2 quotation list.
In order to ensure optimal conditions for the start of trading, the Company is preparing to submit an application for its shares to be included in the Moscow Exchange’s Level 2 quotation list. This move is expected to greatly expand the range of investors who can purchase the Company’s shares, which will increase liquidity after the start of trading. In January 2025, the Moscow Exchange transferred Etalon Group PLC's GDRs to its Level 3 list – due to regulatory restrictions on trading in foreign securities – limiting trading to qualified investors only.
Trading in shares of IPJSC Etalon Group is expected to begin in early September 2025, following the completion of all standard procedures stipulated by the Moscow Exchange’s rules for the inclusion of shares in its Level 2 list.
In accordance with the applicable laws, the conversion of Etalon Group PLC’s GDRs was triggered as a result of the completion of Etalon Group’s redomiciliation to Russia in July. Trading in the Company’s securities on the Moscow Exchange has been suspended since 2 July.1 The time frame for shares to be credited to investors’ accounts may vary depending on the specific broker.
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.