Russia’s leading OTT service ivi has postponed an IPO due to be held in the US this quarter indefinitely.
Telesputnik reports that this is due to new legislation being prepared in Russia by the Duma member Anton Gorelkin that will limit the foreign ownership of OTT services operating mainly in the country to 20%.
Quoting Forbes, it adds that ivi is trying to soften or repeal the bill.
Individual investors have already bought stakes in ivi prior to the IPO, which could have seen the company valued at up to $1 billion.