Kyivstar Set for Historic U.S. Stock Market Debut
Ukraine's largest telecoms operator, Kyivstar, is poised to make a landmark entry onto the U.S. stock exchange. Backed by VEGON and listed via a SPAC, the move aims to entice investors in Ukraine's reconstruction, despite geopolitical risks and past Russian affiliations. The listing targets raising up to $200 million.
Kyivstar, Ukraine's leading telecom giant, is preparing for a historic stock market entry in the United States through a special purpose acquisition company (SPAC) listing with Cohen Circle. Bypassing traditional IPO complexities, this marks a significant milestone as Kyivstar becomes the first Ukrainian firm listed on a U.S. exchange.
Expected to raise between $50 million and $200 million, the listing aligns with VEON's strategic plans to generate investor interest for Ukraine's postwar reconstruction. The action comes as U.S. authorities express strong support, while ongoing geopolitical tensions add a layer of risk to the telecom's historic venture.
Activist investors and shareholders are set to vote on the proposal, which stands as the final procedural step before filings. The listing underscores a narrative centered on Ukraine's recovery and digital infrastructure's pivotal role, but potential geopolitical risks linger, posing challenges to its success.
(With inputs from agencies.)
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