Kyivstar Valued at $2.21B, Plans Nasdaq Listing

VEON, the parent company of Ukraine's largest mobile operator Kyivstar, has signed a Business Combination Agreement with Cohen Circle Acquisition Corp to facilitate Kyivstar's indirect listing on the Nasdaq stock exchange under the ticker symbol KYIV. The transaction assigns a pro-forma valuation of $2.21 billion to Kyivstar, with VEON retaining at least 80% of the company's equity post-transaction, expected to close in Q3 2025, pending shareholder approval. This move positions Kyivstar as a significant investment opportunity as Ukraine seeks to recover economically, with VEON committed to increasing its investment in Ukraine's digital infrastructure to $1 billion by 2027. Kyivstar's CEO Oleksandr Komarov highlighted the listing as a chance to share their growth story and attract international investors, while Cohen Circle's CEO Betsy Cohen emphasized the potential for growth and resilience in Ukraine's economy. This listing will make Kyivstar one of the few Ukrainian companies on a major U.S. exchange, marking a notable milestone for Ukraine's economic future.