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VK Targets $1.36 Billion to Combat Soaring Debt

3/20/2025

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Summary

Story summary

VK, the Russian internet giant, aims to raise 115 billion roubles ($1.36 billion) through a new share issue to tackle its soaring debt. This move comes on the heels of a staggering net loss of 94.9 billion roubles in 2024, nearly tripling last year's figures. Yet, amidst the turmoil, VK's revenue surged by 23% to 147.6 billion roubles, fueled by a booming online advertising market.

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Story summary

VK, the Russian internet giant, aims to raise 115 billion roubles ($1.36 billion) through a new share issue to tackle its soaring debt. This move comes on the heels of a staggering net loss of 94.9 billion roubles in 2024, nearly tripling last year's figures. Yet, amidst the turmoil, VK's revenue surged by 23% to 147.6 billion roubles, fueled by a booming online advertising market.