Welcome to our dedicated page for VEON Ltd. ADS news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on VEON Ltd. ADS stock.
VEON Ltd. ADS (symbol: VEON) is a global digital operator providing converged connectivity and internet services to nearly 160 million customers across six dynamic markets, including Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. VEON offers a comprehensive suite of services encompassing voice, fixed broadband, data, and digital solutions under renowned brands such as Beeline, Kyivstar, banglalink, and Jazz.
Headquartered in Amsterdam and listed on NASDAQ and Euronext, VEON is committed to driving the personal internet revolution by transforming lives through technology-driven services that foster digital inclusion and economic growth. The company prides itself on its ability to empower individuals and create opportunities across its footprint, which covers more than 7% of the world's population.
VEON continuously innovates and expands its offerings. For instance, its subsidiary, Beeline Kazakhstan, in collaboration with IT firm QazCode, hosted the 2024 Beetech Conference in Astana. This event highlighted advancements in AI and big data, featuring participation from global tech giants like NVIDIA and local experts. QazCode also unveiled plans to establish the first GPU cloud in Central Asia, enhancing AI product development capabilities in the region.
Another milestone includes Banglalink's strategic phase-out of 3G services in Bangladesh to enhance its 4G network. This move is part of VEON's broader strategy to provide superior digital experiences and support the country's 'Smart Bangladesh Vision 2041'. Banglalink's 4G subscriber base has grown significantly, reflecting the success of this initiative.
VEON's digital entertainment platform, Tamasha in Pakistan, secured streaming rights for major ICC tournaments, catering to the passionate cricket fanbase. Such strategic content acquisitions are integral to VEON's customer engagement and retention strategy.
Financially, VEON has demonstrated robust growth, with a 6.6% year-on-year increase in total revenues for the first quarter of 2024. The company continues to invest in its infrastructure, with a notable 38.6% year-on-year increase in Capex. VEON maintains a strong liquidity position with USD 632 million in cash equivalents as of March 31, 2024.
VEON's leadership, including CEO Kaan Terzioğlu, is focused on executing its digital operator strategy, leveraging new technologies like AI to enhance customer experiences and drive growth. The recent AGM saw the appointment of a new board, including notable figures like former U.S. Secretary of State Michael R. Pompeo, reflecting VEON's commitment to governance and strategic oversight.
For more information, visit www.veon.com.
VEON Ltd. has reported its preliminary Q4 2022 and FY 2022 results, excluding Russian operations now classified as 'held for sale'. In Q4 2022, total revenues were USD 940 million (-4.9% YoY) but +18.6% in local currency. Full-year revenues reached USD 3,755 million (-2.4% YoY, +14.0% local currency). EBITDA for Q4 was USD 453 million (+1.2% YoY) and USD 1,743 million for FY 2022 (-5.3% YoY). The company highlights a significant improvement in liquidity, with USD 3.1 billion cash on hand, and anticipates local currency revenue and EBITDA growth of 10%-14% for 2023.
VEON Ltd. has appointed Lasha Tabidze as the Group DO1440 Officer, aimed at enhancing its digital operator model. Previously the CEO of Beeline Georgia, Tabidze will drive digital transformations across VEON's operating companies, reporting to CEO Kaan Terzioglu. The new role focuses on optimizing customer engagement through 1,440 minutes of daily service, integrating digital products with mobile connectivity.
The digital operator model has successfully transformed a significant portion of its customer base, winning the "Best Service for Connected Consumers" award at GSMA's GLOMO 2023. Tabidze expressed enthusiasm for driving best practices within the group.
Amsterdam, 8 March 2023: VEON Ltd. (NASDAQ: VEON) announces its support for the "BeSafe" campaign to protect Ukrainian women and children from human trafficking. Through its Ukrainian operator, Kyivstar, VEON is launching a messaging system to alert vulnerable individuals in high-risk countries. The campaign, organized by the OSCE and Thomson Reuters, aims to raise awareness of trafficking signs and provide assistance through crisis hotlines across Europe. The UN projects a ninefold increase in Ukrainian trafficking victims in Europe due to the ongoing crisis.
VEON Ltd. has updated the timing of the ratio change for its ADR program, which was initially scheduled for March 6, 2023. The new effective date is now set for March 8, 2023, following confirmation from the Depository Trust & Clearing Corporation (DTCC). Record holders of ADRs will exchange their existing ADRs at a ratio of 1 new ADR for every 25 existing ADRs. This change aims to align the trading price with Nasdaq's minimum bid price requirements, although the company cannot guarantee success in achieving compliance. The ADS will continue trading under the symbol VEON.
VEON Ltd. has announced a postponement in the effective date of its ADR ratio change under its American Depository Receipt program. Initially set for March 6, 2023, the change has been delayed due to The Depository Trust & Clearing Corporation (DTCC) not being ready to provide the new CUSIP number. VEON is awaiting further confirmation from DTCC regarding the new effective date. The previous announcement regarding the ratio change was made on February 6, 2023. VEON operates globally, providing services to over 200 million customers, and aims to drive digital inclusion and economic growth.
Barcelona, March 2, 2023 - VEON Ltd. (NASDAQ: VEON), a global digital operator, announced its participation in the GSMA Open Gateway initiative, featuring universal network APIs aimed at facilitating access for developers across operator networks. This framework, launched with 21 other mobile network operators at MWC Barcelona 2023, seeks to revolutionize telecom service design and delivery, reminiscent of the mobile voice roaming standardization in the 1980s. VEON's CEO, Kaan Terzioglu, emphasized the significance of rapid innovation and interoperability in the digital landscape, expressing enthusiasm for the standardization benefits for developers and customers alike.
VEON Ltd. announces that Mobilink Microfinance Bank Ltd. (MMBL) has signed the GSMA’s Connected Women Commitment Initiative.
This makes MMBL the first global microfinance bank to commit to this initiative aimed at bridging the mobile gender gap.
With over 16 million monthly active customers in Pakistan, MMBL aims to increase its female customer base by 15%, adding 600,000 female customers by 2025. The initiative seeks to foster digital technology adoption among women to enhance financial inclusion.
CEO Kaan Terzioglu emphasizes the importance of female microentrepreneurs for Pakistan's future economic success.
MWC, Barcelona, 1 March 2023: VEON Ltd. (NASDAQ: VEON) announced a partnership with OneWeb to enhance mobile internet connectivity and digital services in emerging markets. This collaboration aims to extend 4G coverage and address digital divides in regions with low population densities and disaster-prone areas.
OneWeb's LEO satellite network, with 544 satellites launched, enables high-speed connectivity and integrates seamlessly with existing mobile infrastructures. VEON's CEO highlighted the initiative's potential for disaster response and economic growth, while OneWeb's CEO emphasized their shared mission for affordable connectivity.
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