Reported 1 day ago
Russian internet firm VK has announced it will issue additional shares to raise up to 115 billion roubles ($1.36 billion) to alleviate its growing debt, after reporting a nearly threefold rise in net loss for 2024, which hit 94.9 billion roubles. Despite a 23% increase in annual revenue, driven mainly by online advertising, VK's efforts to compete with Western platforms continue to face challenges.
Source: YAHOO