Board of Directors of M.Video has submitted a proposal to the State Duma on changing the format of the additional issue

Board of Directors of M.Video has called a shareholder meeting for June 19 to make a decision on changing the format of the additional issue from open subscription to closed subscription. This type of subscription will allow the company to complete the process of additional financing for ₽30 billion from its existing shareholders and simultaneously raise funds for the development of its key business areas, including the implementation of a new strategy to build a multi-category marketplace with a well-developed offline retail presence and a network of partner pick-up and delivery points.