VEON Welcomes Expanded Kyivstar Free Float After the Successful Kyivstar Secondary Offering

Core Viewpoint - VEON Ltd. announces the successful closing of a secondary public offering of 14,375,000 common shares of Kyivstar Group Ltd. at a price of USD 10.50 per share, which was over-subscribed by 5 times, indicating strong investor interest in the company [1][2]. Group 1: Offering Details - The offering closed on February 2, 2026, and included shares held by VEON Amsterdam B.V. and other selling shareholders [1]. - VEON received proceeds of USD 139.8 million from the offering, which will be used for general corporate purposes [2]. - The offering included the full exercise of the underwriters' option to purchase an additional 1,875,000 common shares [3]. Group 2: Company Background - Kyivstar is the only Ukrainian company listed on a U.S. stock exchange and provides a wide range of digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, and enterprise solutions [8]. - VEON aims to invest USD 1 billion in Ukraine from 2023 to 2027, focusing on infrastructure, technological development, and social projects [9]. Group 3: Leadership Statements - Kaan Terzioglu, VEON Group CEO, emphasized the importance of the offering in expanding Kyivstar's investor base and making Ukraine's growth potential accessible to international investors [2]. - Oleksandr Komarov, Kyivstar Group President, expressed gratitude to international investors and highlighted the demand for well-managed Ukrainian companies [2].