Kyivstar becomes first pure-play Ukrainian investment on U.S. markets

NEW YORK/KYIV - Kyivstar Group Ltd. began trading on the Nasdaq Stock Market today under the ticker symbol "KYIV," becoming the first and only pure-play Ukrainian investment opportunity listed on U.S. stock exchanges. The listing comes as its parent company VEON (NASDAQ:VEON) shows strong market performance, with InvestingPro data revealing a remarkable 109% return over the past year and the stock trading near its 52-week high of $59.88.

The company, a subsidiary of global digital operator VEON Ltd. (NASDAQ:VEON), serves nearly 23 million mobile customers and over 1.1 million home internet fixed line customers in Ukraine as of June 30, 2025. VEON demonstrates robust financial health with an impressive 88% gross profit margin and trades at an attractive P/E ratio of 4.2, according to InvestingPro analysis.

"From today onwards, the ticker KYIV will symbolize the opportunity to invest in Ukraine and to be part of the country’s economic recovery," said Augie Fabela, Chairman and Founder of VEON, in a press release statement.

Kyivstar offers services across mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, and digital TV. The company has been operating in Ukraine for more than 27 years.

Oleksandr Komarov, President of Kyivstar, stated that the company’s more than 5,000 employees have worked to make Kyivstar "the backbone of Ukraine’s resilience and the flagbearer of its future."

VEON and Kyivstar intend to invest $1 billion in Ukraine during 2023-2027 through infrastructure investments, technological development, charitable donations, and strategic acquisitions, according to the announcement.

The listing follows VEON’s previously announced business combination involving Kyivstar. The company is scheduled to ring the Nasdaq’s Opening Bell on August 29 to formally mark its public listing.

In other recent news, VEON Ltd. has announced several notable developments. The company has completed a business combination with Cohen Circle Acquisition Corp. I, resulting in Kyivstar Group Ltd. becoming the first Ukrainian company to list on the Nasdaq Stock Market. This listing follows VEON securing approximately $52.3 million in non-redemption agreements from institutional investors, meeting the cash condition required for the transaction. Additionally, VEON has finalized the sale of its 50.1% indirect stake in Sky Mobile LLC in Kyrgyzstan to the state-owned Eldik Bank, with all regulatory approvals obtained. In a move to enhance its technological capabilities, Kyivstar has successfully conducted a field test of Starlink Direct to Cell technology in Ukraine, marking a first in eastern Europe. Furthermore, VEON has completed the pricing of a $200 million private placement of senior unsecured notes, which are due in 2029 and carry an annual interest rate of 9.000%. The notes are expected to have a credit rating of BB- from S&P and Fitch. These recent developments highlight VEON’s strategic maneuvers in the telecommunications sector.

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