(LONDON, May 31 2013)PIK Group (MICEX: PIKK RX, LSE: PIK LI), one of Russia’s leading residential real estate developers (the “Company” or “PIK”), today announces the results of its accelerated offering of new ordinary shares, which has been conducted as a part of the Company’s ongoing charter capital increase.

The size of the offering is 139 million new ordinary shares (approximately equivalent  to USD275 million), representing an increase from the previously announced minimum offering size of USD150 million which is as a result of strong investor demand.  The offering size includes participation from Nafta Moskva and a number of other investors who provided the Company before launch with their preliminary commitments to participate, as well as a diversified pool of additional Russian and international investors.

The final number of shares issued by the Company in connection with its capital increase will be announced upon the completion of the pre-emptive rights payment period and open subscription on or about June 7, 2013.

On 28 May 2013 the Board of Directors of PIK set the placement price at RUB 62.50 per ordinary share.

Sberbank CIB and VTB Capital have acted as Joint Global Coordinators and Joint Bookrunners.