Tonix Pharmaceuticals stock halted ahead of FDA approval news
Veon Ltd reached a 52-week high, with its stock price climbing to 59.79 USD. This milestone marks a significant achievement for the telecommunications company, which boasts an impressive 87.75% gross profit margin and maintains a "GREAT" financial health rating according to InvestingPro’s comprehensive analysis. Veon Ltd has experienced a remarkable 112.44% increase in its stock price over the last 12 months, trading at an attractive P/E ratio of 8.61. The company’s strategic initiatives and operational efficiencies have contributed to this upward trajectory, positioning the $4.15 billion market cap telecom player favorably in its sector. InvestingPro analysis suggests the stock may still be undervalued, with 12 additional ProTips available for subscribers. Investors will be watching closely to see if Veon can sustain this momentum in the coming months, with detailed insights available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, VEON Ltd. has completed the sale of its 50.1% indirect stake in Sky Mobile LLC, which operates under the Beeline brand in Kyrgyzstan, to state-owned Eldik Bank. The transaction was finalized after receiving all necessary regulatory approvals, though the financial terms were not disclosed. Additionally, VEON’s Ukrainian subsidiary, Kyivstar, has successfully conducted the first field test of Starlink Direct to Cell technology in eastern Europe. This test demonstrated the integration of satellite and terrestrial network capabilities, with messages exchanged via satellite using standard 4G smartphones. Furthermore, VEON has secured approximately $52.3 million in non-redemption agreements for its proposed business combination with Cohen Circle Acquisition Corp. I. This transaction is expected to lead to Kyivstar Group becoming the first pure-play Ukrainian company to be publicly listed on a U.S. stock exchange. VEON also completed the pricing of a $200 million private placement of senior unsecured notes due in 2029, with an annual interest rate of 9.000% and an expected credit rating of BB- from S&P and Fitch. These recent developments highlight VEON’s strategic financial and technological advancements.
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