VEON wants to list Kyivstar on Nasdaq stock exchange in New York

VEON signs a memorandum of understanding with Cohen Circle with the aim of further listing Kyivstar on the Nasdaq stock exchange in New York.

This is announced in the company’s statement, Ukrainian News Agency reports.

The statement states that VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or, together with its subsidiaries, the “Group”), and Cohen Circle Acquisition Corp. I (“Cohen Circle”), a specialized asset acquisition company (Nasdaq: CCIRU), today announced the signing of a memorandum of understanding to jointly conduct business for the purpose of indirectly listing Kyivstar, VEON’s digital operator in Ukraine, on the Nasdaq Stock Market LLC (“Nasdaq”) in the United States of America.

It is noted that the completion of this transaction will make Kyivstar one of the first Ukrainian companies to be listed on the US stock exchange, which will allow US and other international investors to directly participate in the development of Kyivstar and in the broader recovery of the Ukrainian economy.

Kyivstar has the largest mobile and fixed-line network in the country and serves about 24 million subscribers.

Kyivstar's digital services portfolio includes the digital health platform Helsi with a registered user base of 28 million and the film and television platform Kyivstar TV.

As Ukrainian News Agency earlier reported, at the end of 2024, VEON Ltd. (Nasdaq: VEON), the parent company of Kyivstar (VEON or VEON Group), announced that Kyivstar, its digital operator in Ukraine, signed an agreement with Starlink, a division of SpaceX, to begin the implementation of revolutionary Direct to Cell satellite communications in Ukraine.

VEON's largest shareholder is LetterOne Group, which was founded by the founders of the russian Alfa Group, Mikhail Fridman, German Khan, and Alexei Kuzmichov. In 2022, they left the Board of Directors after russia's full-scale invasion of Ukraine and the imposition of sanctions against Fridman.