ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has completed the procedure for changing the depositary bank that administers its global depositary receipts (GDR) programme in accordance with Regulation S (ISIN US29760G1031).
Pursuant to an agreement that entered into force on 6 November 2023, RCS Issuer Services S.AR.L has been appointed as the new depositary bank for the Company’s GDR programme under Regulation S, replacing the Bank of New York Mellon.
Commenting on the change, Etalon Group CEO Gennadiy Shcherbina said:
“In late 2022, we undertook a programme aimed at resolving our infrastructure issue. We have done a great deal of work, having already successfully completed several important stages on the road to overcoming infrastructure-related challenges. In July, for example, Etalon Group received primary listing status on Moscow Exchange. Now, as planned, we have changed the depositary bank administering our Regulation S GDR programme. Every step of the way, we are committed to adhering to high standards of corporate governance and to informing our stakeholders about key decisions and initiatives that bring us closer to resolving our infrastructure issue.”
For information on the new depositary, please visit www.rcsgroup.lu.
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 38 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 9.7 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 42 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 2025 was RUB 318 billion.
In 2025, Etalon Group’s new contract sales totalled 671 ths sqm, or RUB 153.5 billion.
The Company’s revenue in 2025 amounted to RUB 154 billion, with EBITDA of RUB 31 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.