Alfa-Bank provides 3.7 bln rbl to ivi, can buy 2.5% in e-cinema

MOSCOW, Jun 1 (PRIME) -- Russia’s Alfa-Bank has provided a venture credit to online cinema ivi for 3.7 billion rubles and has received the right to acquire 2.5% of the company under a warrant agreement, the bank said on Monday in a statement.

“Alfa-Bank gave a 6-year venture credit to the tune of 3.7 billion rubles to company ivi for further development and strengthening of the leader positions on the market of online video services,” the bank said.

ivi will continue to invest in its business and analyze options of raising additional shareholder financing, including an initial public offering (IPO) in 2021–2022.

(70.7520 rubles – U.S. $1)

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