Telegram has started preparing for an initial public offering of shares, likely to take place in 2023, reports Vedomosti citing sources familiar with the matter. The company has started pre-IPO diagnostics, such as the process of selecting a stock exchange for the listing.
According to the report, Telegram is considering a direct listing, as well as the possible use of a special-purpose acquisition company (SPAC) for starting public trading.
The IPO could value the company at as much as USD 30-50 billion, the report said. The monthly user base of the messenger totals more than 500 million, and market analysts expect that could as much as double by 2023. Up to 25 percent of the shares in the company could be sold in the IPO.
