VEON Announces Plan to Move its Headquarters to Dubai International Financial Center
Rhea-AI Summary
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, has announced plans to relocate its headquarters from Amsterdam to Dubai, United Arab Emirates. The move, approved by VEON's Board of Directors, will make VEON the largest Nasdaq-listed company with its Group headquarters in Dubai. The company's expanding operational hub has been located in the Dubai International Financial Centre (DIFC) since early 2022.
VEON's Group CEO, Kaan Terzioglu, stated that this strategic realignment positions the company closer to its key markets and allows it to capitalize on Dubai's opportunities, including access to world-class talent and enhanced visibility with Gulf investors. The announcement coincides with the start of GITEX Global 2024, a major technology event in Dubai.
VEON currently serves 160 million connectivity customers and 110 million monthly active digital users across six markets.
Positive
- Relocation to Dubai positions VEON closer to key markets
- Potential access to world-class talent in Dubai
- Enhanced visibility with Gulf investors
- Becoming the largest Nasdaq-listed company headquartered in Dubai
Negative
- None.
News Market Reaction
On the day this news was published, VEON gained 2.09%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Dubai and Amsterdam, 14 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator (“VEON” or the “Group”), today announces that its Board of Directors has approved a plan to move the VEON Group headquarters from Amsterdam to Dubai, United Arab Emirates, where VEON’s expanding operational hub has been located since early 2022.
With the move of its headquarters to its hub in the Dubai International Financial Centre (DIFC), the Group will become the largest Nasdaq-listed company with its Group headquarters in Dubai, which is also home to Nasdaq Dubai.
“Our decision to relocate VEON’s headquarters to Dubai reflects the strategic realignment of our focus with closer proximity to our key markets. This move positions us to capitalize on the vast opportunities Dubai offers, including its proximity to our operations, access to world-class talent, and enhanced visibility with a broad base of Gulf investors. We are pleased to announce this shift as GITEX Global 2024, one of the world’s premier technology events, kicks off today in Dubai, marking a new chapter for VEON in a dynamic, thriving market,” said Kaan Terzioglu, Group CEO of VEON.
VEON is a Nasdaq- and Euronext Amsterdam-listed company with a global shareholder base. VEON’s Digital Operators serve 160 million connectivity customers and a total base of 110 million monthly active digital users in the six markets where VEON operates.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
Disclaimer
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s corporate strategy. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
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