Etalon Group behind major residential schemes in Moscow and St Petersburg

One of Russia鈥檚 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 拢310m on the LSE to buy land and finance the construction of both new and existing projects.

Viacheslav Zarenkov, chairman of Etalon Group, said: 鈥淸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.

鈥淭he 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.鈥�

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