Veon Ltd. Collaborates with Cohen Circle for Kyivstar IPO on NASDAQ
Veon Ltd., the parent company of Ukraine’s largest mobile operator, Kyivstar, has recently made headlines by signing a memorandum of understanding with American investment firm Cohen Circle. This strategic partnership aims to pave the way for Kyivstar’s shares to be indirectly listed on the prestigious Nasdaq stock exchange in the United States. The news was officially confirmed by Kyivstar CEO Oleksandr Komarov through a post on Facebook.
Key Details of the IPO Plan
According to a press release from Kyivstar, Veon will retain a majority stake in the company that is set to be listed on the stock exchange. The IPO, scheduled for the second quarter of 2025, is expected to bring about significant changes in the company’s structure. As part of the preparation for the IPO, Veon plans to undergo a reorganization process by demerging Veon Holdings. This move will result in Veon Holdings retaining ownership of Kyivstar and its subsidiaries, alongside specific assets and liabilities.
Challenges Faced and Future Prospects
The road to Kyivstar’s IPO has been fraught with challenges, particularly due to the company’s previous ties to Russian businessmen who faced sanctions from both the EU and Ukraine. Despite these obstacles, Kyivstar remains committed to its Ukrainian roots and aims to attract new international investors through the upcoming IPO. CEO Komarov expressed optimism about the IPO, highlighting the potential for Kyivstar to become one of the first Ukrainian companies in the electronic communications sector to be listed on American stock exchanges during a time of conflict.
Reporter’s Insight: Olena Hrazhdan’s Perspective
As a seasoned business reporter with a background in covering a wide range of economic and financial topics in Ukraine, I have closely followed the developments surrounding Kyivstar’s IPO journey. The collaboration between Veon and Cohen Circle marks a significant milestone for Kyivstar and the Ukrainian telecommunications industry as a whole. Despite the challenges posed by geopolitical tensions and regulatory issues, Kyivstar’s determination to go public on NASDAQ showcases the resilience and innovative spirit of Ukrainian businesses in the face of adversity.
In my years of reporting, I have witnessed firsthand the transformative power of strategic partnerships and bold initiatives in driving economic growth and attracting foreign investment to Ukraine. The upcoming IPO of Kyivstar represents not only a financial opportunity for the company but also a symbolic gesture of Ukraine’s commitment to global market integration and technological advancement. As the country navigates through turbulent times, initiatives like Kyivstar’s IPO serve as beacons of hope and progress in an ever-changing world.
Olena Hrazhdan, Business Reporter at Kyiv Post
