Mubadala Acquires Stake in Russian Developer Etalon
Posted on 05/24/2021
On May 21, 2021, Mubadala Investment Company acquired 6.28% of shares in Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies.
Mubadala Investment Company has notified Etalon Group about the acquisition of a 6.28% stake in Etalon Group, the equivalent of 24.1 million GDRs, crossing the 5% voting rights threshold.
Earlier, Etalon listed 88.5 million GDRs on London Stock Exchange and Moscow Stock Exchange, which accounts for 30% of the total registered capital of the company considering the additional issue.
Founded in 1987, Etalon Group focuses on middle class residential real estate in the Moscow and St. Petersburg metropolitan areas. Etalon Group has been listed on Moscow Stock Exchange since 2011. Global depositary receipts of the company started trading on Moscow Stock Exchange in February 2020. In 2019, Etalon Group acquired and consolidated 100% in
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