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 (Nasdaq: VEON, Euronext Amsterdam: VEON) has published the 2023 Dutch Annual Report for its wholly-owned subsidiary VEON Holdings B.V., including audited consolidated financial statements for the year ended December 31, 2023. This publication completes VEON's commitment to noteholders regarding audited financial statements for 2024. The company previously filed its 2023 Dutch Annual Report for VEON on November 1, 2024, and its Annual Report on Form 20-F on October 17, 2024, with the latter being audited by UHY LLP according to PCAOB standards.
VEON (Nasdaq: VEON) announces the final steps of consolidating its trading exclusively on Nasdaq. The company's shares will cease trading on Euronext Amsterdam at the close of trading on November 22, 2024, with the delisting effective from November 25, 2024. VEON has extended the offer to pay ADS issuance fees until December 6, 2024, for shareholders converting their Common Shares to ADSs. Shareholders must hold Common Shares in multiples of 25 for ADS conversion. Current ADS holders not holding Common Shares on Euronext Amsterdam need not take any action.
VEON's subsidiary Kyivstar has acquired new spectrum in Ukraine, investing UAH 1.43 billion (approximately USD 34 million). The acquisition includes 2x5 MHz in the 2100 MHz band and 40 MHz in the 2300 MHz band, increasing Kyivstar's total spectrum holding from 152 MHz to 202 MHz. This maintains its leading position among private operators in Ukraine. The investment is part of VEON's USD 1 billion commitment through 2027. Kyivstar currently serves over 23 million mobile subscribers, 1 million home internet subscribers, and provides digital healthcare services through Helsi to more than 28 million registered patients and 1,600 healthcare institutions.
VEON's subsidiary Beeline Uzbekistan has partnered with GSMA and Uzbekistan's Ministry of Digital Technologies to host M360 Eurasia 2025 in Tashkent on May 20-21, 2025. The Memorandum of Understanding was signed during M360 MENA 2024 in Doha, Qatar. M360 is GSMA's global event series that unifies regional mobile ecosystems to foster innovation and positive business environments. The event in Tashkent aims to support Uzbekistan's digitalization agenda and contribute to regional economic growth through mobile industry development.
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has received a commercial license for its branch office in Dubai International Finance Centre (DIFC). This development aligns with VEON's previously announced plans to relocate its headquarters from Amsterdam to DIFC. Upon completion of the transition, VEON will become the largest Nasdaq-listed company headquartered in Dubai. The company operates as a global digital operator serving nearly 160 million connectivity customers and over 100 million monthly active digital service users across Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan.
VEON reported strong Q3 2024 results with total revenue reaching USD 1,038 million, up 9.8% YoY (14.1% in local currency). Direct digital revenue grew 35.1% YoY to USD 121 million, while telecom revenue reached USD 916 million. EBITDA was USD 438 million, showing a slight decrease of 1.5% YoY in reported currency. The company maintains strong liquidity with USD 1,019 million in total cash and cash equivalents. Despite challenges in Bangladesh and asset sales in Kazakhstan, VEON expects full-year revenue growth of 8-10% YoY and EBITDA growth of 4-6% YoY in USD terms.
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has announced the re-appointment of UHY LLP as their independent registered public accounting firm for the Group's 2024 PCAOB Audit. UHY LLP is part of UHY International, a global network established in 1986 and ranked 19th among international audit networks. UHY International operates in over 330 business centers across 96 countries, serving various organizations including public corporations, private businesses, and non-profit entities.
VEON announces the launch of RYZE, an AI-powered digital lifestyle app by its Bangladesh operator Banglalink. The app targets Bangladesh's young population, where over 48% of 175 million people are under 25. RYZE offers AI-driven personalization, skill development resources, entertainment packages, and loyalty rewards, available to all mobile users across networks.
This launch adds to VEON's portfolio of digital-first lifestyle apps, including ROX in Pakistan, IZI in Kazakhstan and Kyrgyzstan, and OQ in Uzbekistan. VEON's digital services currently represent more than 10% of the Group's total revenues in H1 2024, serving 160 million connectivity customers and 110 million monthly active users across various digital products.
VEON's leadership team, including Chairman Augie Fabela and CEO Kaan Terzioglu, met with Pakistan's Prime Minister Shehbaz Sharif to discuss the country's digital advancement. The delegation highlighted VEON's investments in Pakistan's digital infrastructure through Jazz and Mobilink Bank, serving over 70 million mobile users and 63 million monthly active users across digital services like JazzCash, Tamasha, and Simosa. The team also met with various government officials including the Finance Minister and IT Minister. Pakistan, with 244 million people and 64% under 30, represents a significant digital growth opportunity. VEON plans to host its upcoming Board meeting and annual Board Strategy meeting in Pakistan, its largest market.
VEON's enterprise solutions business Garaj, part of Pakistan's Jazz operator, has signed an agreement with Standard Chartered Bank to establish a regional availability zone. Garaj will provide disaster recovery data center services through its advanced Tier 3 Data Center, which complies with Global TIA-942 standards. The partnership includes 24/7 operational support, dedicated Network Operations Center, and certified engineer helpdesk services. Garaj currently serves over 400 enterprise customers, including 98 of the top 100 Pakistan Stock Exchange listed companies, offering cloud infrastructure, cybersecurity, and managed services through two cloud availability zones.
FAQ
What is the current stock price of VEON Ltd. ADS (VEON)?
What is the market cap of VEON Ltd. ADS (VEON)?
What services does VEON Ltd. provide?
In which countries does VEON operate?
What recent events highlight VEON's innovation?
How has VEON performed financially in recent times?
Who are some notable members of VEON's board?
What is the significance of QazCode's GPU cloud in Central Asia?
How is VEON contributing to Bangladesh's digital transformation?
What digital entertainment services does VEON offer in Pakistan?
What is VEON's approach to customer engagement?
Where is VEON headquartered and listed?
