Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
Veon Ltd stock reached a significant milestone as it hit a 52-week high, trading at 58.75 USD. The company, with a market capitalization of $4.06 billion and impressive gross profit margins of 87%, has demonstrated strong financial health according to InvestingPro metrics. This marks a notable achievement for the telecommunications company, reflecting strong investor confidence. Over the past year, Veon Ltd has experienced a substantial increase in its stock value, with a 1-year change of 75.46%. Trading at a P/E ratio of just 6.91, InvestingPro analysis reveals the stock is currently trading below its Fair Value, with 8 additional ProTips available for subscribers. This impressive growth underscores the company’s positive market performance and strategic advancements, supported by strong EBITDA of $1.53 billion. Investors are closely watching Veon’s trajectory as it continues to navigate the competitive telecom landscape, with detailed insights available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, VEON Ltd (AS:VON). has completed the pricing of a $200 million private placement of senior unsecured notes due in 2029. These notes, issued by VEON (NASDAQ:VEON) MidCo B.V., are priced at par with an annual interest rate of 9.000% and are expected to carry a BB- credit rating from S&P and Fitch. The company plans to use the proceeds for general corporate purposes and capital structure optimization. Additionally, VEON has announced the third phase of its share buyback program, allocating up to $35 million for repurchasing American Depositary Shares. This follows the completion of the second phase, where 1.43 million ADSs were repurchased.
VEON’s Ukrainian subsidiary, Kyivstar, has received regulatory approval to test Starlink Direct-to-Cell services in Ukraine, with plans for a full launch in the fourth quarter of 2025. In Pakistan, VEON has finalized a strategic partnership with Engro Corporation Limited to manage telecommunications infrastructure assets, which is expected to transform Jazz, VEON’s digital operator in Pakistan, into an asset-light services company. Benchmark has reiterated its Buy rating on VEON stock, attributing a recent selloff to geopolitical factors unrelated to VEON-specific developments. The firm maintains a positive long-term outlook on the company despite current market challenges.
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