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,
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
03/07/2026
New bundle & three Single Packs
Continuing to expand their already sizeable orchestral collection, VSL's latest release introduces three new Single Pack...
03/07/2026
Venue installs new ATC-equipped control room
LSO St Luke's, a unique music venue that also serves as the home of the London Symphony Orchestra, have rec...
03/07/2026
1 February 2023
SHARE Facebook Twitter Linkedin Email
Munich, Germany, 1st February 2023: Cinegy GmbH, the premier provider of software technology for digit...
02/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
02/07/2026
A new era in unmixing and spectral editing
The latest version of Steinberg's spectral audio-editing software has just arrived, building on the strength...
02/07/2026
Aims to simplify additive synthesis
Sine Machine is the debut launch from Melatonin, a Vienna-based developer who have spent the past six years creating wha...
02/07/2026
Products to remain fully active & supported
Following the news of Native Instruments joining the inMusic brand line-up, Academy and Emmy Award-winning visua...
02/07/2026
What you missed!
Last weekend, Saturday 27 June 2026, saw the debut of Sound On Sounds new GearExpo UK event, the largest dedicated pro-audio event to take ...
02/07/2026
Thursday 2 July 2026
Tea with Judi Dench returns to Sky Arts with legendary guest, Sir Ian McKellen
Sky today confirms Tea with Judi Dench will return this su...
01/07/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
01/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
01/07/2026
Exclusive run of limited-edition modelling pedals
Sweetwater and Andertons M...
01/07/2026
LEXINGTON, Kentucky - July 2026 -Tyler Childers' seventh and latest studio record, Snipe Hunter, is an adventurously sprawling collection of tunes that span...
01/07/2026
** MEDIA ALERT **
BLEACH Comes to Life in Los Angeles with First-of-Its-Kind...
01/07/2026
UKTV has today announced the appointment of Matt Berry to the newly created role of General Manager - Marketing, effective 1 July.
Matt will take on this senio...
01/07/2026
Sky Zero Footprint Fund-backed TV campaign featuring Deborah Meaden challenges consumers to rethink everyday bathroom wasteWednesday 1 July 2026
Fussy asks Bri...
01/07/2026
Constituency-level analysis reveals where girls miss out most on sport - and where targeted action could unlock more than £640 million in economic and health be...
01/07/2026
Wuppertal July 1, 2026
Riedel and SKAARHOJ Expand Collaboration With SimplyLive IntegrationRiedel Communications today announced an expanded collaboration wit...
01/07/2026
Apple today introduced power-packed updates to Apple Creator Studio, a groundbre...
01/07/2026
Nectar360, the Retail Media, Loyalty and Insights business of the Sainsburys Gro...
01/07/2026
9.2 million streams on RT Player between 11 and 28 June
Reach of 2.9 million viewers during Group stages of FIFA World Cup on RT 2
23 million video views acr...
30/06/2026
Could your journalism reach an international stage?
Entries are now open for the Thomson Foundation's Young Journalist Award 2026, one of the most prestigi...
30/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
30/06/2026
New IR reverb engine, Juno-inspired chorus & more
The latest version of Rapid Flow's hardware-emulation synth plug-in expands on its predecessor with a ...
30/06/2026
Excels at heavy-handed VCA compression
For their latest release, Shy Audio have recreated the crunchy' sound of a rackmount compressor that found its w...
30/06/2026
Component scarcity drives cost increases
Shortly after Apple's CEO Tim Cook acknowledged that cost increases would soon be inevitable , the company hav...
30/06/2026
Hitachi and Bank Pekao S.A. have completed the installation of the first Hitachi...
30/06/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
29/06/2026
Four-layer instrument aimed at dark electronic music
Excite Audio's latest software instrument has been designed with dark drum and bass, atmospheric te...
29/06/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
29/06/2026
Details environmental policies & results
The Focusrite Group have just announced that following a long audit process, they have published their 2026 sustain...
29/06/2026
Arvato Systems Achieves AWS Cloud Operations Competency
The team behind the AWS Cloud Operations Competency (from left to right: Philipp Hellmich, Johanna Bod...
29/06/2026
RT today announced that Ger Gilroy will join the RT Podcasts team to present a daily sports podcast. Launching later this year, the new show will set the spor...
29/06/2026
RT Commercial announced OUTsurance as sponsor of the Oliver Callan show on RT Radio 1 from Wednesday 1 July.
Oliver Callan doubles the fun, delivering two ...
28/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
28/06/2026
New EXO Series DSP control software announced
EVE Audio's EXO Series monitor range has just gained a new software element that provides remote access to...
27/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
26/06/2026
Virtual session musician plug-in gains new percussion options
Celemony's latest update for their virtual session musician platform complements the exist...
26/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
26/06/2026
ELT Group and Rohde & Schwarz sign a cooperation agreement to explore commercial...
26/06/2026
Flicker Productions to produce five-part docu-reality series following women who have fallen for men in prison and have become TikTok sensations, with brands an...
26/06/2026
Catch up on the latest developments across Baselight and Daylight v7, Nara and F...
26/06/2026
26. June 2026 News
DFT is pleased to announce that a second Polar HQ film s...
26/06/2026
A fresh look at how the Irish helped shape the foundations of the United States
...
13 Jan 2025
