Telegram’s Financial Stability Threatened as Founder Faces Criminal Charges in France, Potential IPO Plans Questioned amid Huge Bond Losses
Monday, 2 September, 2024
According to recent reports, Telegram's financial stability is under significant pressure as Pavel Durov faces criminal charges in France.
Plans for a potential IPO by 2026 are now in doubt, and bondholders are already suffering huge losses as Telegram's bonds have fallen nearly 10 per cent, trading at around 87 cents on the dollar and yielding more than 16 per cent, down from 96 cents before Durov's arrest.
Durov had invested "hundreds of millions" in Telegram, including $64 million in Telegram bonds.
Telegram's performance metrics for 2023 include:
- Revenue $342 million.
- Total loss after tax: $173 million.
With about $2.4bn of debt to be repaid by 2026, including $1bn of bonds issued in 2021, Telegram's future remains uncertain, so investors and stakeholders await further developments.
