
13 Jan 2025
VEON to List Kyivstar on Nasdaq in New York, Signs Letter of Intent with Cohen Circle Kyiv, New York, Dubai and Philadelphia,13 January 2025: 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 special purpose acquisition company (Nasdaq: CCIRU), today announced the signing of a letter of intent ( LOI ) to enter into a business combination with the aim of indirectly listing Kyivstar, VEON's digital operator in Ukraine, on the Nasdaq Stock Market LLC ( Nasdaq ) in the United States.
Completion of this transaction would make Kyivstar the first purely Ukrainian investment opportunity to be publicly listed on a U.S. stock exchange, enabling U.S. and other international investors to participate more directly in Kyivstar's growth and the broader recovery of the Ukrainian economy.
Kyivstar is Ukraine's leading digital operator, with the country's largest mobile and fixed-line connectivity businesses that serve nearly 24 million connectivity customers. Kyivstar's portfolio of digital services includes the digital healthcare platform Helsi with a registered user base of 28 million and the entertainment streaming platform, Kyivstar TV. Kyivstar is a leading provider of enterprise services in Ukraine, supporting Ukrainian businesses with cloud, cybersecurity and AI solutions, a growing player in the software development landscape of Ukraine via Kyivstar Tech, and a preferred partner for international technology companies, having most recently signed a groundbreaking agreement with Starlink to bring direct-to-cell satellite connectivity to Ukraine to enhance the resilience of communication.
We are proud to be opening American and global markets for Ukraine with Kyivstars benchmark Nasdaq listing. As Ukraines largest private investor, this milestone amplifies our Invest in Ukraine NOW! campaign, showcasing the country's growth potential and offering American investors direct access to its future economic opportunities, said Augie K Fabela II, Chairman and Founder of VEON.
The agreement that we have reached with Cohen Circle is a significant step in VEON's ambition of crystallizing value for our investors, including through the listings of our key assets where relevant. It also underscores our commitment to rebuilding Ukraine through investments. We are excited to see investor interest in Kyivstar's growth story and the appreciation of Ukraine's potential. We are determined to work diligently towards the successful completion of this process, which will make Kyivstar a unique U.S.-listed opportunity for international investors while also highlighting the overall investment case for Ukraine, said Kaan Terzioglu, VEON Group CEO.
Kyivstar possesses all of the qualities we look for as a merger partner - strong business fundamentals, excellent management and opportunities for outsized growth. We couldn't be more excited than to partner with VEON and provide investors with a compelling opportunity to invest in the economic development of Ukraine, said Betsy Cohen, Chairman and CEO of Cohen Circle Acquisition Corp. I.
The LOI will enable VEON and Cohen Circle to explore a business combination between VEON Holdings B.V. ( VEON Holdings ) and Cohen Circle with the aim of indirectly listing Kyivstar, a wholly owned subsidiary of VEON Holdings, on Nasdaq (the Business Combination ). VEON will continue to hold a majority stake in such publicly listed entity. The parties expect to announce additional details regarding the Business Combination upon the execution of a definitive agreement, which is anticipated to take place by the second quarter of 2025.
As part of the preparation for the Business Combination, VEON will undertake a pre-transaction reorganization of VEON Holdings (the Reorganization ). This Reorganization will be consummated through a Dutch legal demerger, as a result of which VEON Holdings, which will remain domiciled in the Netherlands, will hold only Kyivstar and its subsidiaries and certain other select assets and liabilities. A newly incorporated entity will hold VEON's other core operating subsidiaries and assets.
VEON has commenced the process of this demerger by filing the demerger proposal and accompanying documents with the Dutch Chamber of Commerce today. The Reorganization is expected to be completed by March 2025. Further information on the demerger process can be found on the Company's website: https://www.veon.com/investors
To facilitate the aforementioned actions, VEON Holdings today also launches a consent solicitation to obtain consent from the holders of its bonds maturing in 2027 (ISIN: Reg S: XS2824764521/ Rule 144A: XS2824766146) (the 2027 Notes ).
The consent solicitation is being made on the terms and subject to the conditions contained in the consent solicitation memorandum dated 13 January 2025 (the Consent Solicitation Memorandum ). A copy of the Consent Solicitation Memorandum (subject to distribution restrictions) can be obtained from the tabulation agent (Kroll Issuer Services Limited). ICBC and Jefferies will be acting as Solicitation Agents on the consent.
About VEON
VEON is a Nasdaq-listed digital operator headquartered in the Dubai International Financial Center 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. For more information visit: www.veon.com
About Cohen Circle
Cohen Circle is a special purpose acquisition company sponsored by Cohen Circle, LLC and formed for the purpose of entering into a merger, capital stock exchange,
More from VimpelCom
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...
25/11/2024
25 Nov 2024
VEON Shares now Trade Exclusively on Nasdaq in New York Amsterdam, Dubai and New York, November 25, 2024: VEON Ltd. (Nasdaq: VEON), a global digita...
21/11/2024
21 Nov 2024
VEON on Track to Consolidate Trading on Nasdaq in New York, Last Da...
21/11/2024
21 Nov 2024
VEON Publishes 2023 Dutch Annual Report for VEON Holdings B.V. with...
20/11/2024
20 Nov 2024
VEON's Kyivstar Acquires New Spectrum, Investing UAH 1.4 Billio...
19/11/2024
19 Nov 2024
GSMA brings M360 Eurasia to Tashkent in partnership with Beeline Uz...
15/11/2024
15 Nov 2024
VEON Receives License for its Branch Office in Dubai International ...
14/11/2024
14 Nov 2024
VEON 3Q24 Trading Update: Another Billion Dollar Revenue Quarter, D...
13/11/2024
13 Nov 2024
VEON appoints UHY LLP as auditors for VEON Groups 2024 PCAOB Audit Amsterdam and Dubai, 13 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amster...
12/11/2024
12 Nov 2024
VEON Announces Special General Meeting for the Laying of the 2023 A...
11/11/2024
11 Nov 2024
VEON Elevates its Youth Offering Through Banglalink's AI-Powere...
08/11/2024
08 Nov 2024
VEON Group Reaffirms Commitment to Strengthen Pakistan's Digita...
07/11/2024
07 Nov 2024
VEON's Cloud & Cybersecurity Platform Garaj Signs with Standard...
05/11/2024
05 Nov 2024
VEON's Jazz Enters Partnership to Support Local-Language AI LLM...
01/11/2024
01 Nov 2024
VEON Files its Dutch Annual Report with Audited Financial Statement...
01/11/2024
01 Nov 2024
VEON Launches AI-Powered Super App Hambi in Uzbekistan Amsterdam, Dubai and Tashkent, 1 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam...
29/10/2024
29 Oct 2024
VEON CEO Kaan Terzioglu Re-elected to the GSMA Board Amsterdam and Dubai, 29 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a gl...
25/10/2024
25 Oct 2024
JazzCash and Dgpays Join Forces to Enhance Marketplace Payments in Pakistan Amsterdam and Dubai, 25 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...
24/10/2024
24 Oct 2024
VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplac...
21/10/2024
21 Oct 2024
Nasdaq Confirms VEON's Full Compliance Following its 2023 20-F Filing Amsterdam and Dubai, 21 October 2024: VEON Ltd. (Nasdaq: VEON; Euronext A...
21/10/2024
21 Oct 2024
VEON Commences its Delisting from Euronext Amsterdam to Consolidate...
21/10/2024
21 Oct 2024
VEON Welcomes Letter from its Shareholder Shah Capital, Reiterates ...
17/10/2024
17 Oct 2024
VEON Files its 2023 Form 20-F Amsterdam, 17 October 2024, 20:45: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator ( VE...
14/10/2024
14 Oct 2024
VEON Announces Plan to Move its Headquarters to Dubai International...
14/10/2024
14 Oct 2024
VEON appoints Andrey Pyatakhin as the incoming CEO of Beeline Uzbekistan Amsterdam and Tashkent, 14 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...
09/10/2024
09 Oct 2024
VEON Launches KINOM Digital Entertainment Platform in Uzbekistan Amsterdam and Tashkent, 09 October 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amster...
02/10/2024
02 Oct 2024
VEON's Mobilink Bank and Banglalink Take Home Digital Nations ...
30/09/2024
30 Sep 2024
VEON Strengthens Group Leadership Team Adding Two Senior Executives...
30/09/2024
30 Sep 2024
VEON Completes the Sale of Its Stake in TNS in Line with Asset-Light Strategy Amsterdam, 30 September 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amst...
27/09/2024
27 Sep 2024
VEON Bonds to Re-Enter CEMBI and JACI Indices Amsterdam, 27 September 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital o...
16/09/2024
16 Sep 2024
VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investme...
13/09/2024
13 Sep 2024
VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader...
12/09/2024
12 Sep 2024
VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu Amsterdam, 12 September 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam:...
09/09/2024
09 Sep 2024
VEON's Kyivstar Receives Further Recognition as Top Internation...