VEON's Kyivstar Completes Secondary Offering, Expanding Free Float to 6%

VEON's principal shareholder, VEON Amsterdam B.V., has sold 14.375 million Kyivstar shares at $10.50 each. The offering was oversubscribed by 5 times and included shares held by other selling shareholders. VEON received $139.8 million in proceeds, net of fees, and plans to use the funds for general corporate purposes. The offering expanded Kyivstar's free float to 6%.