The BCS broker offered its clients to buy Telegram bonds issued in 2021 on the secondary market. This was reported by the Telegram channel Wutmu or TON the day before with a link to the presentation. The Association of Bond Owners confirmed to RBC that BCS clients actually received such a presentation.
A presentation published by Wutmu or TON claims that Telegram is planning an IPO in the second or third quarter of 2025. It is also clear from the document that Pavel Durov is the 100% owner of the messenger. In addition, Telegram has a debt of 2 billion dollars.
As for the bonds, buyers will be able to convert their face value into shares in the IPO. At the same time, at the time of conversion, a discount of 10% is assumed if the placement is carried out before March 2024 and 15% if the IPO is before March 2025. A 20% discount will be offered if the placement is carried out before March 2026. If the idea of placing shares was abandoned, investors were promised to repay the bonds in 2026.
Telegram’s preparation for an IPO was reported in the spring of 2021. Then the probable date for its holding was 2023. According to experts, the best option for the company is to list on the New York Stock Exchange. In 2021, Telegram expected a valuation of between $30 billion and $50 billion and an issuance of 10% to 25% of the shares.
Author:
Natalia Gormaleva
Source: RB
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