On January 13, VEON, the parent company of Kyivstar, announced the signing of an agreement with the American investment company Cohen Circle, which brings the Ukrainian company closer to listing on the US stock exchange. VEON will merge with Cohen Circle, which is already traded on the US exchange, which will allow Kyivstar to go public bypassing an IPO.
On January 13, VEON, the parent company of Kyivstar, announced the signing of an agreement with the American investment company Cohen Circle, which brings the Ukrainian company closer to listing on the US stock exchange. VEON will merge with Cohen Circle, which is already traded on the US exchange, which will allow Kyivstar to go public bypassing an IPO.
VEON and Cohen Circle have signed a letter of intent, the implementation of which should result in the listing of Kyivstar on the Nasdaq stock exchange in the US. This was announced by Oleksandr Komarov, CEO of Kyivstar, on January 14.
This will allow Kyivstar to become one of the first Ukrainian companies represented on American stock exchanges, and will also help attract new international investors.
«For me, it’s not just about business. It’s an opportunity to bring our story to thousands of people and draw their attention to the realities, resilience, and new opportunities in Ukraine — to invest in its recovery and reconstruction now, without waiting for the final end of the war,» Komarov noted.
The Ukrainian operator’s intention to conduct an initial public offering (IPO) on the American stock exchange was first announced in November 2024.
Then VEON Director Kaan Terzioglu noted in an interview with Reuters that VEON had not held any conversations with Ukrainian officials on this topic, as the process was still at an early stage.
«We have not made such decisions yet, but we are ready to consider the possibility of an IPO of our local assets. And it is obvious that Kyivstar is one of those assets that could be in this process,» VEON CEO Kaan Terzioglu said in an interview with Reuters in November.
UPDATED. 14.01.2025 10:11
To enter the US stock exchange, Kyivstar will merge with the SPAC company Cohen Circle, which will allow it to bypass the IPO, Forbes Ukraine reports .
UPDATED. 14.01.2025 21:58
Kyivstar denied information about the merger of Kyivstar with the SPAC company Cohen Circle.
Here is the official comment: «VEON, the parent company of Kyivstar, and Cohen Circle Acquisition Corp. I, a specialized asset acquisition company, announced the signing of a memorandum of understanding to conduct business together for the purpose of indirectly placing Kyivstar, VEON’s digital operator in Ukraine, on the Nasdaq Stock Market LLC in the United States.»
