VEON Plans Nasdaq Listing for Kyivstar

VEON Ltd. has entered into a letter of intent with Cohen Circle Acquisition Corp. to indirectly list its Ukrainian digital operator, Kyivstar, on the Nasdaq Stock Market, making it the first purely Ukrainian investment opportunity on a U.S. exchange. This initiative aims to attract international investors and support Ukraine’s economic recovery, as Kyivstar serves nearly 24 million customers and offers a range of digital services, including a healthcare platform and entertainment streaming. The listing is part of VEON's broader strategy to enhance its growth prospects and showcase Ukraine's investment potential. The move also follows Kyivstar's recent partnership with Starlink to improve communication resilience in Ukraine. The definitive agreement is expected to be finalized by mid-2025, with hopes to complete the listing by the end of that year. VEON has committed to investing $1 billion in Ukraine's digital infrastructure by 2027.