M.Video has started the first stage of its long-awaited additional issue

M.Video network has announced the start of the exercise of shareholders' pre-emptive rights to purchase additional shares. Maximum volume of the additional issue is 1.5 billion shares, but the actual volume may be significantly lower, according to the company. Funds raised will be used to implement a new strategy for building a multi-category marketplace with a well-developed offline retail presence. Additional issue will also complete the process of recapitalization by ₽30 billion from existing shareholders.