Russian developer seeks £310m London listing

One of Russia’s largest developers, Etalon Group, has announced its intention to list on the London Stock Exchange.

The developer, which is behind numerous residential developments around Moscow and St Petersburg, including a 500,000m² development in Butovo, says it wants to raise £310m on the LSE to buy land and finance the construction of both new and existing projects.

Viacheslav Zarenkov, chairman of Etalon Group, said: “[The public offering] will provide important funds to acquire new projects, as well as to further expand operations in our key markets in order to derive maximum benefit from a recovering Russian economy.

“The combination of our market position, track record, healthy financial position and credibility that underpins our ability to generate pre-sales, puts us in a strong position to benefit from the growth potential of the Russian residential market.”