💨 Abstract

Russian internet company VK aims to raise up to 115 billion roubles ($1.36 billion) through an additional share issue to reduce its debt burden, which tripled in 2024. State-controlled VK, a key domestic internet platform in Russia, reported a net loss and a decrease in share prices, but also announced a 23% increase in full-year revenue due to a 20% rise in online advertising revenue.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖