Page 14 - bne_Tech_03_2020

Investment
March 2020 www.intellinews.com I Page 14
Romanian online home decoration retailer raises €3.5mn in bonds
Romania-based Vivre Deco, one of the largest online retailers of furniture and decorations
in Central and Eastern Europe, successfully completed a private bond placement and raised €3.5mn. The bonds will be listed on the AeRO platform of the Bucharest Stock Exchange.
The funds raised will be used to finance the company's accelerated development strategy
by capturing the market, in particular through investments in marketing tools, with the aim
of expanding the customer base and increasing brand awareness, as well as through investments in technology and automation.
The bonds mature in 2025 and carry a 5.25%
annual coupon, according to a statement from Banca Transilvania Financial Group, which managed the placement.
Vivre Deco was founded by Romanian entrepreneur Monica Cardogan. One of its significant shareholders is the Neogen group, founded by Calin Fusu.
In 2019, Vivre Deco recorded revenues of about €42mn, an operating profit of €1.5mn, and
a net profit of €0.71mn.
The company operates on nine markets in Central and Eastern Europe and has shown sustained development over the last five years, with turnover increasing by an average annual rate of 28%.
Russian billionaires Abramovich, Gutseriev, said to invest in Telegram crypto project TON
Russian billionaires Roman Abramovich and Mikhail Gutseriev, as well as ex-minister Mikhail Abyzov are among the investors in the blockchain project of Telegram messenger Telegram
Open Network, of self-exiled Russian digital entrepreneur Pavel Durov, Vedomosti daily reported citing unnamed sources and the information of the US Securities and Exchange Commission (SEC).
As reported by bne IntelliNews, Telegram raised $1.7bn in the biggest ever ICO (Initial Coin Offering) in 2018 to develop the TON platform that Telegram owner and founder Pavel Durov promises will be
a revolutionary advance in the use of blockchain.
But TON failed to respect its obligation to investors to launch an operational network by October 31, 2019 or return the $1.7bn of investment. Vedomosti reminds that investors have approved the delay in the launching of TON to spring 2020.
Reportedly, the former government minister Abyzov invested $20mn in TON through the Batios Holdings Limited fund. Vedomosti reminds that Abyzov has been under arrest since March 2019 for alleged embezzlement of RUB4bn.
Russian metals and mining tycoon Abramovich invested $10mn via Norma Investments Limited,