Jul. 23 at 12:18 PM
$VEON is strategically reshaping its future with the spin-off of Kyivstar (
$KYIV), Ukraine’s leading mobile and digital operator.
With
$315M in annual free cash flow, 57% EBITDA margins, and a fast-growing multiplay ecosystem—including e-health and ride-hailing—Kyivstar’s Nasdaq listing sets a powerful precedent. VEON retains ~87% of the entity, preserving both economic exposure and dividend optionality once capital controls ease.
This isn’t just a capital markets event—it’s VEON’s blueprint for value realization. The structure ensures governance upgrades, institutional credibility, and clear price discovery for undervalued digital assets. If successful, it opens the door for a JazzCash spin-off—VEON’s fintech engine with 20M+ users and 66% YoY revenue growth.
Investors aren’t just getting exposure to Ukraine’s digital rebound—they’re buying into VEON’s transformation from legacy telco to a capital-light, cash-compounding platform across frontier markets. Structural upside is now in play.
