Developer Etalon Group has started collecting applications for participation in the placement of up to 400 million additional shares. Price target is set at ₽46 per share, which is comparable to the volume-weighted average price for the 12 months of 2025. Collection of preliminary applications will last until February 9th. Company expects to raise up to 18.4 billion for the purchase of Business Real Estate JSC from AFK Sistema, which plans to buy back up to 377 million shares of the developer's additional issue.