Kyivstar Aims for Up to $200M in Nasdaq Debut
Ukraine’s largest mobile operator, Kyivstar, is aiming to raise between $50 million and $200 million in its planned debut on the Nasdaq this year, Reuters reports, citing sources familiar with the matter.
- According to those sources, parent company VEON has already locked in $52 million from institutional investors. It is the minimum it intends to raise.
- The total could climb to $200 million, depending on investor demand for shares.
- Kyivstar is pursuing a SPAC merger with Cohen Circle, valuing the company at $2.2 billion.
The deal is expected to close in the third quarter of 2025; however, sources at Scroll.media indicate that the process could be completed within the next month.
A key milestone comes on August 12, when investors are set to vote on the SPAC acquisition. All parties, including VEON shareholders, are eager for the deal’s success. Notably, Shah Capital, VEON’s fourth-largest shareholder, has long advocated for spinning off Kyivstar as a standalone company.
If the IPO goes through, Kyivstar will become the first Ukrainian company to trade on a U.S. stock exchange.
Kyivstar Aims for Up to $200M in Nasdaq Debut
Ukraine’s largest mobile operator, Kyivstar, is aiming to raise between $50 million and $200 million in its planned debut on the Nasdaq this year, Reuters reports, citing sources familiar with the matter.
- According to those sources, parent company VEON has already locked in $52 million from institutional investors. It is the minimum it intends to raise.
- The total could climb to $200 million, depending on investor demand for shares.
- Kyivstar is pursuing a SPAC merger with Cohen Circle, valuing the company at $2.2 billion.
The deal is expected to close in the third quarter of 2025; however, sources at Scroll.media indicate that the process could be completed within the next month.
A key milestone comes on August 12, when investors are set to vote on the SPAC acquisition. All parties, including VEON shareholders, are eager for the deal’s success. Notably, Shah Capital, VEON’s fourth-largest shareholder, has long advocated for spinning off Kyivstar as a standalone company.
If the IPO goes through, Kyivstar will become the first Ukrainian company to trade on a U.S. stock exchange.
