VEON, a global leader in telecommunications services, is set to take a significant step in its international expansion by planning to list Kyivstar, the largest mobile network operator in Ukraine, on the NASDAQ stock exchange. This transaction is being executed through Cohen Circle, a specialized SPAC (Special Purpose Acquisition Company) designed to facilitate indirect listings on U.S. markets. The SPAC structure allows Kyivstar to bypass the traditional initial public offering (IPO) process and enter the U.S. stock market more efficiently.
Cohen Circle’s extraordinary general meeting of shareholders is scheduled for August 12, 2025, to seek the necessary approvals for the transaction. Shareholders of Cohen Circle will review and vote on the proposed merger, which promises to provide Kyivstar with access to significant capital, increased visibility, and expanded opportunities for growth. The approval process is critical to ensuring the deal’s success, as it requires the agreement of a majority of shareholders.
This potential listing marks a major milestone for Kyivstar, which has already established a strong presence in the Ukrainian market. By entering the NASDAQ, Kyivstar aims to strengthen its financial position, attract new investors, and leverage the robust U.S. market for further expansion. VEON, which owns a majority stake in Kyivstar, stands to benefit from the increased liquidity and potential for greater shareholder returns through this move.