International telecommunications company Veon plans to list all of its subsidiaries on the stock exchange. The first was Ukrainian Kyivstar, which announced preparations for listing in January 2025, and in August the company's team was listed on Nasdaq.
International telecommunications company Veon plans to list all of its subsidiaries on the stock exchange. The first was Ukrainian Kyivstar, which announced preparations for listing in January 2025, and in August the company's team was listed on Nasdaq.
Kyivstar has effectively paved the way for other Veon assets to follow. Veon Holding founder Ogi Fabela explained in an interview with Forbes that the strategy is supported by key partners, including Shah Capital.
"Bringing all our subsidiaries to the stock exchange is part of Veon's strategy, but we had to work with other challenges. In particular, in Pakistan and Bangladesh. We are an international company. Kyivstar has paved the way for our other businesses to follow," said Fabela.
In Pakistan, Veon is developing JazzCash, which disburses about 170,000 microloans daily. Pakistan is currently Veon’s largest market, with Kyivstar a close second. Kazakhstan, Bangladesh, and Uzbekistan are next in the asset structure.
The head of Veon also said that despite the high cost of cooperation with SpaceX and the fact that the direct-to-cell function does not yet bring direct profit, this decision was made not only for the sake of short-term monetization.
"We make investments that do not necessarily correspond to classic business plans. Sometimes you have to think more progressive and believe in the long-term effect," said Ogi Fabela.
It was previously reported that in the first month on Nasdaq, Kyivstar Group shares fell by 7%, ranging from $9.92 to $16.48 per share. As of September 22, the company's capitalization is $2.6 billion.
