Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
Launched in 2013, Telegram allows users to broadcast messages to a following via โchannelsโ, or create public and private groups that are simple for others to access. Users can also send and receive large data files, including text and zip files, directly via the app.The platform said it has more than 500m active users, and topped 1bn downloads in August, according to data from SensorTower.PELBAGAI RESEPI MASAKAN ๐ข๐น๐ฎ๐ฌ๐ฒ๐ช๐ต ๐ฝ๐ฑ๐ช๐ท๐ด๐ผ ๐ฝ๐ธ ๐ธ๐๐ท๐ฎ๐ป ๐ฏ๐ธ๐ป ๐ฝ๐ฑ๐ฒ๐ผ ๐ญ๐ฎ๐ต๐ฒ๐ฌ๐ฒ๐ธ๐พ๐ผ ๐ป๐ฎ๐ฌ๐ฒ๐น๐ฎ๐ผ from us