
20 Mar 2025
VEON Discloses Selected Key Financial Metrics About Uklon Kyiv and Dubai, March 20, 2025 - VEON Ltd. (Nasdaq: VEON), a global digital operator, today provides additional selected financial information about Uklon group ( Uklon ) following its announcement on 19 March 2025 regarding the agreement signed between JSC Kyivstar ( Kyivstar ) and Uklon for Kyivstar to acquire 97% of the shares of Uklon, a leading Ukrainian ride-hailing and delivery platform.
Uklon Key Financial and Operational Metrics, FY 2024 (preliminary, unaudited)
Revenue (USD mln) 65
Revenue CAGR FY21 - FY24 (USD) 30%
Number of Rides in 2024 > 100,000,000
Number of Deliveries in 2024 > 3,000,000
Partner / drivers in Ukraine, EoP > 100,000
Ukrainian cities covered by Uklon services, EoP 27
Source: Unaudited preliminary Uklon management data, covering all operations, unless otherwise specified
This announcement is made to inform relevant stakeholders in a uniform manner of further information about Uklon.
On 18 March 2025, VEON announced the signing of a business combination agreement with Cohen Circle Acquisition Corp. I (Nasdaq: CCIRU) that will result in the listing of Kyivstar on the Nasdaq Stock Market in the United States under the ticker symbol KYIV. The transaction is subject to the approval of Cohen Circle's shareholders and other customary closing conditions and is expected to close in the third quarter of 2025.
On 20 March 2025, VEON disclosed its Fourth Quarter and Financial Year 2024 Trading Update.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information visit: www.veon.com
About Kyivstar
Kyivstar is Ukraines largest digital operator, serving more than 23 million mobile subscribers and over 1.1 million Home Internet fixed line customers as of December 2024. The company provides services across a wide range of mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, digital TV, and more. Kyivstar has committed to invest USD 1 billion into the development of new telecom technologies in Ukraine over 2023-2027. Kyivstar has allocated over UAH 2 billion over the past two years to help Ukraine overcome wartime challenges, including providing support for the Armed Forces, clients and social projects. Kyivstar has been operating in Ukraine for 27 years and is recognized as a leading employer and a top contributor to socially important initiatives.
About Uklon
Uklon is the largest ride-hailing player in Ukraine. Uklon was founded in Kyiv 15 years ago as a tech start-up, successfully competing with global players with zero dollars of external financing. The company's founders are industry veterans with 15+ years of experience in taxi automation. Uklon's team includes more than 700 experts, including 250 software engineers who every day improve and maintain one of the largest consumer technology platforms in Ukraine. Uklon's digital services include ride-hailing, delivery, and other synergic mobility services, as well as AdTech for businesses.
Notice to readers: financial information presented
The results and other financial information presented in this document are, unless otherwise stated, prepared in accordance accounting and financial reporting standards under Ukrainian generally accepted accounting principles and have not been externally reviewed and audited. The financial information included in this document is preliminary and is based on a number of assumptions that are subject to inherent uncertainties and subject to change. The financial information presented herein is based on internal management accounts, is the responsibility of management and is subject to financial closing procedures which have not yet been completed and has not been audited, reviewed or verified. Certain amounts and percentages that appear in this document have been subject to rounding adjustments. As a result, certain numerical figures shown as totals, including those in the tables, may not be an exact arithmetic aggregation of the figures that precede or follow them. Although we believe the information to be reasonable, actual results may vary from the information contained above and such variations could be material. As such, you should not place undue reliance on this information. This information may not be indicative of the actual results for the current period or any future period.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Business Combination. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
THE DISSEMINATION, PUBLICATION OR DISTRIBUTION OF THIS COMMUNICATION IS PROHIBITED IN ANY JURISDICTION WHERE IT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT APPLICABLE LAW.
Additional Information and Where to Find It
In connection with the Business Combination, the combined company will file a registration statement, of which a proxy statement/prospectus will form a part, with the SEC. The definitive proxy statement/prospectus and other relevant documents will be sent o
More from VimpelCom
18/06/2025
18 Jun 2025
VEON's Kyivstar Advances Direct-to-Cell Services With Starlink ...
17/06/2025
17 Jun 2025
Omiyinka Doris Chooses to Step Aside from VEON General Counsel Position Dubai, June 17, 2025: VEON Ltd. (Nasdaq: VEON; the Company or VEON ), a ...
17/06/2025
17 Jun 2025
VEON Appoints Vitaly Shmakov as Acting General Counsel Dubai, June 17, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON or the Co...
17/06/2025
17 Jun 2025
Kyivstar and Ministry of Digital Transformation of Ukraine sign Coo...
16/06/2025
16 Jun 2025
VEON Announces USD 35 Million Share Buyback Announcement marks the third phase of USD 100 million share buyback program
Dubai, June 16, 2025: VEON...
05/06/2025
05 Jun 2025
VEON Progresses in Kyivstar Group's Nasdaq Listing with the Pub...
05/06/2025
05 Jun 2025
Kyivstar Group Reports First Quarter 2025 Financial Results in Conj...
03/06/2025
03 Jun 2025
VEON and Engro Corporation Complete Pioneering Infrastructure Partn...
03/06/2025
03 Jun 2025
Empowering Kazakh Students: VEON's Beeline Kazakhstan introduce...
23/05/2025
23 May 2025
VEON and Engro Corporation Advance to Closing Pioneering Infrastruc...
20/05/2025
20 May 2025
Beeline Uzbekistan Moves its Headquarters to Tashkent's IT Park...
15/05/2025
15 May 2025
VEON 1Q25 Earnings Release: Strong Start to 2025, Digital Revenues ...
12/05/2025
12 May 2025
VEON Joins GSMA Advance's People Excellence Partner Program as ...
08/05/2025
08 May 2025
VEON Shareholders Re-elect Board at 2025 AGM, Founder Augie Fabela ...
07/05/2025
07 May 2025
VEON's QazCode Signs MoU with Seekr to Develop AI-Powered Solut...
02/05/2025
02 May 2025
VEON to release 1Q25 trading update on May 15, 2025 Dubai, May 2, 2025 - VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms that t...
25/04/2025
25 Apr 2025
VEON Files its 2024 Annual Report on Form 20-F Dubai, April 25, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON' or the Compa...
14/04/2025
14 Apr 2025
VEON Publishes 2024 Integrated Annual Report Detailing Commitment t...
08/04/2025
08 Apr 2025
VEON Completes Reorganization Ahead of Kyivstar's Planned Nasdaq Listing Dubai, April 8, 2025: VEON Ltd. (Nasdaq: VEON), a global digital opera...
31/03/2025
31 Mar 2025
VEON Announces 2025 AGM and Board Nominees Notice of the 2025 Annual General Meeting of Shareholders of VEON Ltd.
Dubai, March 31, 2025 - VEON Ltd...
27/03/2025
27 Mar 2025
VEON Returns to Capital Markets with Successful Syndication of USD ...
26/03/2025
26 Mar 2025
VEON Appoints Anand Ramachandran as Corporate Development Officer Dubai, March 26, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON...
21/03/2025
21 Mar 2025
VEON and Airspan Sign MoU to Collaborate on Air-to-Land Network Sol...
20/03/2025
20 Mar 2025
VEON FY24 and 4Q24 Trading Update: Strong Delivery in 2024, Digital...
20/03/2025
20 Mar 2025
VEON to Proceed with USD 35 Million Share Buyback Announcement marks second phase of USD 100 million share buyback program announced on August 1, 2...
20/03/2025
20 Mar 2025
VEON Discloses Selected Key Financial Metrics About Uklon Kyiv and Dubai, March 20, 2025 - VEON Ltd. (Nasdaq: VEON), a global digital operator, tod...
19/03/2025
19 Mar 2025
VEON's Kyivstar Expands Digital Portfolio with Acquisition of U...
18/03/2025
18 Mar 2025
VEON Moves Forward with Kyivstar's Landmark Nasdaq Listing; Sig...
17/03/2025
17 Mar 2025
VEON appoints Johan Buse as the Incoming CEO of Banglalink Dubai and Dhaka, 17 March 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VE...
12/03/2025
12 Mar 2025
VEON to release 4Q 2024 trading update on 20 March 2025 Dubai, 12 March 2025 - VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms ...
06/03/2025
06 Mar 2025
Mobilink Bank Wins GLOMO Award for Invisible Heirs Campaign Barcelona and Islamabad, March 06, 2025: VEON Ltd. (Nasdaq: VEON), a global digital ope...
05/03/2025
05 Mar 2025
VEON's Jazz to Deploy 1,000 Solar Sites across Pakistan in coll...
04/03/2025
04 Mar 2025
VEON's Beeline Uzbekistan to Deploy Predictive AI for Enhanced ...
26/02/2025
26 Feb 2025
VEON Highlights Role of Investments in Rebuilding Ukraine, Renews ...
14/02/2025
14 Feb 2025
VEON's Kyivstar and the Come Back Alive Foundation Raise USD 2....
12/02/2025
12 Feb 2025
VEON's JazzCash and Mobilink Bank Shortlisted for Prestigious GLOMO Awards Dubai and Islamabad, February 12 2025: VEON Ltd. (Nasdaq: VEON), a g...
30/01/2025
30 Jan 2025
VEON Gets Unanimous Support from Noteholders Voting in Consent Soli...
16/01/2025
16 Jan 2025
VEON Appoints New Members to the Group Executive Committee Dubai, 16 January 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON or t...
13/01/2025
13 Jan 2025
VEON to List Kyivstar on Nasdaq in New York, Signs Letter of Intent...
09/01/2025
09 Jan 2025
VEON appoints Burak Ozer as Group Chief Financial Officer Dubai, 9 January 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON or the...
30/12/2024
30 Dec 2024
In a Groundbreaking Agreement, VEON and Starlink to Bring Starlink ...
19/12/2024
19 Dec 2024
VEON Completes the Move of its Headquarters to Dubai Dubai, 19 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON or the G...
13/12/2024
13 Dec 2024
VEON discloses its unaudited interim condensed consolidated financi...
12/12/2024
12 Dec 2024
Kyivstar and Jazz Secure Double Win for VEON at The World Communica...
11/12/2024
11 Dec 2024
Kazakh Language Gets its National LLM with a Groundbreaking Partner...
09/12/2024
09 Dec 2024
VEON Approves Launch of the Initial USD 30 Million Phase of its Sha...
05/12/2024
05 Dec 2024
VEON and Engro Corp Announce Strategic Partnership for Telecommunic...
03/12/2024
03 Dec 2024
In an Open Letter to VEON Investors, VEON Group CEO Welcomes the Un...
02/12/2024
02 Dec 2024
VEON's Kyivstar Launches GenAI Lab with Amazon Web Services (AW...
29/11/2024
29 Nov 2024
VEON Welcomes Unfreezing of its Corporate Rights in Kyivstar, Suppo...