VEON Ltd., a global digital operator, announced the successful completion of its secondary public offering (SPO) of Kyivstar shares. The offering sold 14.375 million shares of the company at a price of USD 10.50 per share, exceeding demand by 5 times.
VEON Ltd., a global digital operator, announced the successful completion of its secondary public offering (SPO) of Kyivstar shares. The offering sold 14.375 million shares of the company at a price of USD 10.50 per share, exceeding demand by 5 times.
The offer included shares of VEON Amsterdam BV, Kyivstar’s main shareholder, as well as 400,000 shares of other shareholders. Thanks to the SPO, Kyivstar’s free float for international investors increased by 6%.
«We are pleased to open up another 6% of Kyivstar’s capital to international investors. This is a natural step in our strategy to make Ukraine’s potential recovery and development accessible to global investors,» said Kaan Terzioglu, CEO of VEON and Executive Chairman of Kyivstar.
«This successful offering confirms investors’ interest in innovative and effectively managed Ukrainian companies. We hope that more and more people in Ukraine will be able to become part of Kyivstar’s history,» added Oleksandr Komarov, President of Kyivstar Group.
Following the offering, VEON’s stake in Kyivstar is 83,6%, and the company received net proceeds of USD 139.8 million, which it plans to use for general corporate purposes. The offering also included the full exercise of the underwriters' option for an additional 1.875 million shares.
Among the managing underwriters were Morgan Stanley, Barclays, Cantor Fitzgerald and Rothschild & Co, and co-managers were Benchmark, a StoneX Company, and Northland Capital Markets.
Kyivstar remains the only Ukrainian company traded on the US stock exchange, demonstrating stability and consistent implementation of its digital development strategy even in difficult times.
