From March 26, convertible bonds of Telegram will be available for trading on the St. Petersburg Stock Exchange. Earlier it was reported that in this way the company is going to attract $1 billion of investment needed to develop the platform and expand the audience of users. Earlier, it was reported that securities of Telegram will be available to a narrow circle of investors with an initial value of $50 million and more. At the moment, it is known that trading will be conducted in dollars from 10:00 am to 6:40 pm Moscow time.
The face value of the paper is $1,000 and the expected yield to maturity reaches 6-7%. Investors note the positive aspects of the issue of high-yield currency papers but recommend keeping in mind the riskiness of such deals.
The beginning of trading should attract influential investors, not only by its image component but also by the possibility of obtaining Telegram shares in the future. However, some analysts admit the possibility of high risks for such investments, because even companies with a well-known name are not insured against unforeseen situations.
For example, we remember that in 2018 Telegram was planning to create a blockchain platform, TON, to issue Gram altcoins. At that time, for the first time in the company’s history, funds from outside investors were raised (until then, the messenger had been developed and developed with money from its “parent” Pavel Durov). However, the launch of the project was stopped due to the claims of the SEC. The United States Securities and Exchange Commission believed that the company had violated the rules of securities registered with the SEC. In May 2020, the TON platform ceased to exist, and the owners of Telegram pledged to pay a fine and return the invested funds to investors.