(LONDON, June 7, 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 completion and final results of its charter capital increase.

The final number of ordinary shares issued by the Company in connection with its capital increase was 167,236,960 ordinary shares. Total number after capital increase will change to  660,497,344 ordinary shares. PIK's Chief Executive Officer and several other of the Company's managers participated in the charter capital increase, together purchasing a total of 445,000 new shares.

At the price of RUB 62.50 price per share set by the Company’s Board of Directors on 28 May 2013, the final size of the completed capital increase was RUB10.45 billion (equivalent  to approximately USD 330 million).  This number represented a significant increase from the initially announced minimum size of USD150 million, which was set following the receipt of preliminary commitments to participate in the open subscription from Nafta Moskva and a number of other investors. The additional USD180 million which has been raised through the accelerated share offering and open subscription follows strong investor demand.

As previously indicated, PIK intends to use at least 50% of the net proceeds from the capital increase for deleveraging, and a portion of the net proceeds from the capital increase may also be used for investment in new projects and general corporate purposes.

Sberbank CIB èVTB Capital acted as Joint Global Coordinators and Joint Bookrunners.