By Gianluca Lo Nostro and Leo Marchandon
(Reuters) -Telecoms group VEON (NASDAQ:) is contemplating an preliminary public providing (IPO) for its Ukrainian unit Kyivstar within the U.S. as early as subsequent 12 months, CEO Kaan Terzioglu mentioned on Thursday.
“We’ve not made these choices but, however we’re dedicated to wanting into IPOs of our native property. And clearly, Kyivstar is a type of property which could possibly be within the line of this course of,” Terzioglu advised Reuters in an interview.
Ought to the IPO undergo, Kyivstar would turn into the primary Ukrainian firm to be listed in america.
VEON has not had any conversations with Ukrainian officers on the subject, as the method remains to be within the early phases, Terzioglu mentioned.
He had beforehand hinted at a possible itemizing in Warsaw or London.
“For Ukraine, I feel the native IPO within the Ukrainian market in all probability is a little bit bit extra long run challenge than having an IPO in a global market,” the CEO mentioned.
The feedback got here after Nasdaq signed a partnership with the Ukrainian authorities in February to “assist the event of Ukrainian capital markets”.
In October, activist investor Shah Capital, which owns a 6.75% stake in VEON, urged the group to listing Kyivstar on Nasdaq as a method to “unfreeze possession shares”.
In 2023, a courtroom in Kyiv froze 47.85% of Kyivstar’s company rights because of the earlier involvement of sanctioned Russian people in VEON.
