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Олександр КузьменкоMoney
18 March 2025, 13:37
2025-03-18
VEON and Cohen Circle Sign Definitive Business Combination Agreement, Bringing Kyivstar Closer to Nasdaq Listing
VEON, the parent company of Kyivstar, and Cohen Circle Acquisition Corp, a specialized asset acquisition company, announced the signing of a business combination agreement to conduct an indirect listing of Kyivstar on the Nasdaq Stock Market in the United States. Upon completion of the transaction, Kyivstar Group Ltd. will become the parent company of Kyivstar, which is valued at $2.21 billion.
VEON, the parent company of Kyivstar, and Cohen Circle Acquisition Corp, a specialized asset acquisition company, announced the signing of a business combination agreement to conduct an indirect listing of Kyivstar on the Nasdaq Stock Market in the United States. Upon completion of the transaction, Kyivstar Group Ltd. will become the parent company of Kyivstar, which is valued at $2.21 billion.
As noted in the press release, the company will be listed on the Nasdaq stock exchange under the ticker KYIV .
VEON will own at least 80% of the issued and outstanding capital of Kyivstar Group immediately upon closing of the transaction, which is expected to occur in Q3 2025, and is subject to Cohen Circle shareholder approval and other customary closing conditions.
«Kyivstar’s listing on the Nasdaq will be more than just a financial milestone — it will mark a defining moment for Ukraine’s economic future. As one of the largest private investors in Ukraine, VEON is proud to be the first to take this historic step, offering U.S. and global investors a unique opportunity to support and participate in Ukraine’s economic growth and resilience,» said Augie C. Fabela II, Chairman of the Supervisory Board and Founder of VEON.
According to Kyivstar CEO Oleksandr Komarov, during the war Kyivstar «managed to lead the process of restoring the stability of the infrastructure «Progress towards the indirect listing of Kyivstar will allow us to share this growth story with global investors,» he commented on the deal.
Cohen Circle Acquisition Corp. Chairman and CEO I. Betsy Cohen called Kyivstar an «inspiring business» and said it was a significant investment opportunity that could provide growth for international investors as «Ukraine enters a recovery phase.»
