Ahead of Its Historic Listing on Nasdaq, Kyivstar Group Completes Business Combination with Cohen Circle

Core Viewpoint - The business combination between VEON Ltd. and Cohen Circle Acquisition Corp. I has successfully closed, resulting in the establishment of Kyivstar Group Ltd. as a U.S.-listed company, marking a significant milestone for Ukrainian investment opportunities in the U.S. stock market [1][2][4]. Company Overview - Kyivstar Group Ltd. will begin trading on Nasdaq under the ticker symbols "KYIV" and "KYIVW" on or about August 15, 2025, making it the first pure-play Ukrainian investment opportunity in U.S. markets [2]. - VEON holds an 89.6% stake in Kyivstar Group Ltd. following the business combination [2]. Shareholder Approval and Financials - Cohen Circle's shareholders approved the business combination at an extraordinary general meeting on August 12, 2025, with only 25.4% of Class A ordinary shares exercising redemption rights, resulting in transaction proceeds of USD 178 million [3]. Leadership Statements - VEON's Chairman emphasized the historical significance of Kyivstar's listing on Nasdaq and its role in showcasing Ukraine's resilience and investment potential [4]. - The CEO of VEON highlighted the strong investor confidence in Kyivstar, evidenced by low redemption rates during the transaction [4]. - Kyivstar's President expressed excitement about sharing the company's growth story with international investors [4]. Company Services and Market Position - Kyivstar serves nearly 23 million mobile customers and 1.1 million fixed connectivity customers, offering a range of digital services including healthcare, entertainment, and enterprise solutions [6][10]. - The company is also a key player in Ukraine's software development landscape and has partnerships with international technology firms [6]. Future Developments - Kyivstar plans to commercially launch satellite-powered Direct to Cell services in Q4 2025, enhancing connectivity across Ukraine [7]. Investment Commitment - VEON and Kyivstar Group intend to invest USD 1 billion in Ukraine from 2023 to 2027, focusing on infrastructure, technological development, and strategic acquisitions [10].