VEON's Kyivstar Group Completes Nasdaq Listing via Cohen Circle Merger

VEON has completed a business combination between its subsidiary Kyivstar Group and Cohen Circle Acquisition Corp, resulting in Kyivstar becoming a U.S.-listed company on Nasdaq. Kyivstar serves nearly 23 million mobile customers in Ukraine and offers digital services. VEON holds an 89.6% stake in Kyivstar, marking a significant step in making Ukraine's success story visible to U.S. investors. The move highlights VEON's commitment to investing in Ukraine's technological and infrastructure development.

Kyivstar Group Ltd. has completed its business combination with Cohen Circle Acquisition Corp. I (NASDAQ: CCIR), marking a significant milestone as the first pure-play Ukrainian investment opportunity on U.S. stock markets. The combined company will begin trading on Nasdaq on August 15, 2025, under the symbols "KYIV" and "KYIVW" [1].

The transaction secured $178 million in proceeds, with only 25.4% redemption rate from Cohen Circle's public shareholders. VEON (Nasdaq: VEON) maintains an 89.6% stake in Kyivstar Group post-combination. Kyivstar serves 23 million mobile and 1.1 million fixed connectivity customers in Ukraine. The company's portfolio includes digital healthcare platform Helsi, entertainment streaming service Kyivstar TV, and ride-hailing platform Uklon. Additionally, Kyivstar plans to launch Starlink Direct to Cell services commercially in Q4 2025 [1].

The listing on Nasdaq represents a strategic move for VEON and Kyivstar to make Ukraine's investment case more accessible to U.S. investors. VEON, the parent company of Kyivstar, is investing $1 billion in Ukraine during 2023-2027, focusing on social investments in infrastructure and technological development, charitable donations, and strategic acquisitions [1].

Kyivstar's services, including digital healthcare, entertainment streaming, and ride-hailing, highlight the company's commitment to innovation and growth. The successful testing of Starlink Direct to Cell services further underscores Kyivstar's ability to deliver essential connectivity across Ukraine [1].

The listing on Nasdaq is expected to attract international investors seeking high-growth opportunities, particularly in the tech sector. The move also positions Ukraine as a key player in the global digital economy, showcasing its resilience and potential for future growth.

References:
[1] https://www.stocktitan.net/news/CCIRU/ahead-of-its-historic-listing-on-nasdaq-kyivstar-group-completes-be0s6sz8u4kx.html