MOSCOW, May 5. /TASS/. Shareholders of the Russian technology holding VK made a decision to implement an issue of new shares, with the funds to be allocated for debt burden lowering, the company said.

"VK informs that company shareholders approved an increase in the authorized capital of VK by offering extra ordinary shares through closed subscription," the company informed.

VK plans to raise up to 115 bln rubles ($1.4 bln) within the framework of the additional issue, to be allocated by the company for debt burden lowering. The right of first refusal for the purchase of shares as part of the additional offering will be provided by VK to all the current shareholders in proportion to the stakes they hold.

VK suffered a net loss of 94.9 bln rubles ($1.2 bln) as of the end of 2024, which is almost 2.8 times more in annual terms. Revenues of the company gained 23% at the same time and totaled 147.6 bln rubles ($1.8 bln). VK stocks are traded in the Moscow Exchange.