Global digital operator VEON Ltd. and specialized asset acquisition firm Cohen Circle announced their intention to enter into a joint venture with Kyivstar, the national mobile operator in Ukraine. The agreement provides for the preparation of Kyivstar's initial public offering on the Nasdaq Stock Market in New York. The agreement will allow Kyivstar not only to become one of the first Ukrainian companies to be listed on the US capital market, but also to strengthen the economic recovery in Ukraine.
This was reported by the press service of VEON Ltd.
"Kyivstar is a leading digital operator in Ukraine with the country's largest mobile and fixed business serving nearly 24 million customers... Kyivstar is a leading enterprise services provider in Ukraine, supporting Ukrainian businesses with cloud, cybersecurity and artificial intelligence solutions, is a growing player in software development in Ukraine through Kyivstar Tech, and a preferred partner for international technology companies, having recently signed a landmark agreement with Starlink to provide its services.
According to VEON founder Augie C. Fabella II, the Nasdaq listing is an important event for the company and for Ukraine.
"We are proud to open the U.S. and global markets to Ukraine with Kyivstar's listing on the Nasdaq Stock Market. As the largest private investor in Ukraine, this important step reinforces our message to invest in Ukraine now," said Augie C. Fabella II. сказав Огі К. Фабела II.
Betsy Cohen, Chairman of the Cohen Circle, emphasized that Kyivstar is poised for significant growth and represents a profitable opportunity for investors.
The closing of the transaction and listing details are expected to be announced in early 2025, following the necessary reorganization of the companies.
Author: Danylo Pievchev