VEON Completes the Move of its Headquarters to Dubai
VEON (Nasdaq: VEON) has completed the relocation of its Group headquarters from Amsterdam to Dubai International Financial Centre (DIFC). The move follows Board approvals on December 12 and 19, 2024, making VEON the largest Nasdaq-listed company headquartered in Dubai. The Amsterdam office will be further scaled down as previously announced.
VEON operates as a global digital operator serving 160 million connectivity customers and 110 million monthly active digital users across six markets: Ukraine, Pakistan, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan. The company aims to leverage Dubai's talent pool and enhance visibility with Gulf investors while maintaining its Nasdaq listing.
VEON (Nasdaq: VEON) ha completato il trasferimento della sua sede centrale da Amsterdam al Dubai International Financial Centre (DIFC). Questo spostamento è avvenuto dopo le approvazioni del Consiglio del 12 e 19 dicembre 2024, rendendo VEON la più grande azienda quotata al Nasdaq con sede a Dubai. L'ufficio di Amsterdam sarà ulteriormente ridotto come annunciato in precedenza.
VEON opera come un operatore digitale globale al servizio di 160 milioni di clienti di connettività e 110 milioni di utenti digitali attivi mensili in sei mercati: Ucraina, Pakistan, Bangladesh, Kazakistan, Uzbekistan e Kirghizistan. L'azienda mira a sfruttare il bacino di talenti di Dubai e a migliorare la visibilità con gli investitori del Golfo, mantenendo al contempo la sua quotazione al Nasdaq.
VEON (Nasdaq: VEON) ha completado la reubicación de su sede central de Ámsterdam al Dubai International Financial Centre (DIFC). Este movimiento siguió las aprobaciones de la Junta el 12 y 19 de diciembre de 2024, convirtiendo a VEON en la mayor empresa cotizada en Nasdaq con sede en Dubái. La oficina de Ámsterdam se reducirá aún más, como se anunció anteriormente.
VEON opera como un operador digital global que atiende a 160 millones de clientes de conectividad y 110 millones de usuarios digitales activos mensuales en seis mercados: Ucrania, Pakistán, Bangladés, Kazajistán, Uzbekistán y Kirguistán. La empresa tiene como objetivo aprovechar el talento de Dubái y aumentar su visibilidad con los inversores del Golfo, manteniendo al mismo tiempo su cotización en Nasdaq.
VEON (Nasdaq: VEON)은 본사를 암스테르담에서 두바이 국제 금융 센터 (DIFC)로 이전했습니다. 이 결정은 2024년 12월 12일과 19일에 이사회의 승인을 받은 후 이루어져, VEON이 두바이에 본사를 두고 있는 가장 큰 나스닥 상장 기업이 되었습니다. 이전에 발표된 바와 같이 암스테르담 사무실은 추가로 축소될 예정입니다.
VEON은 우크라이나, 파키스탄, 방글라데시, 카자흐스탄, 우즈베키스탄, 키르기스스탄 등 여섯 개 시장에서 1억 6천만 명의 연결 고객과 1억 1천만 명의 월간 활성 디지털 사용자를 대상으로 하는 글로벌 디지털 운영자로 활동하고 있습니다. 이 회사는 두바이의 인재 풀을 활용하고 걸프 지역 투자자들에게 가시성을 높이는 동시에 나스닥 상장을 유지하는 것을 목표로 하고 있습니다.
VEON (Nasdaq: VEON) a achevé le déménagement de son siège social de Rotterdam à Dubai International Financial Centre (DIFC). Ce changement a suivi les approbations du Conseil d'administration des 12 et 19 décembre 2024, faisant de VEON la plus grande entreprise cotée au Nasdaq dont le siège est à Dubaï. Le bureau d'Amsterdam sera encore réduit comme annoncé précédemment.
VEON opère en tant qu'opérateur numérique mondial servant 160 millions de clients en connectivité et 110 millions d'utilisateurs numériques actifs mensuels sur six marchés : Ukraine, Pakistan, Bangladesh, Kazakhstan, Ouzbékistan et Kirghizistan. L'entreprise vise à tirer parti du réservoir de talents de Dubaï et à accroître sa visibilité auprès des investisseurs du Golfe tout en maintenant sa cotation au Nasdaq.
VEON (Nasdaq: VEON) hat den Umzug seines Konzernsitzes von Amsterdam zum Dubai International Financial Centre (DIFC) abgeschlossen. Dieser Schritt erfolgte nach den Genehmigungen des Vorstands am 12. und 19. Dezember 2024, was VEON zum größten an der Nasdaq gelisteten Unternehmen mit Sitz in Dubai macht. Das Büro in Amsterdam wird, wie bereits angekündigt, weiter verkleinert.
VEON ist als globaler Digitalanbieter tätig und bedient 160 Millionen Kunden im Bereich Konnektivität und 110 Millionen monatlich aktive digitale Nutzer in sechs Märkten: Ukraine, Pakistan, Bangladesch, Kasachstan, Usbekistan und Kirgisistan. Das Unternehmen strebt an, den Talentpool Dubais zu nutzen und die Sichtbarkeit bei Investoren aus dem Golfraum zu verbessern, während es gleichzeitig seine Nasdaq-Notierung aufrechterhält.
- Becomes largest Nasdaq-listed company headquartered in Dubai
- Strategic positioning for access to Gulf investors
- Cost reduction through Amsterdam office downsizing
- Simplified governance structure
- Operational disruption risk during transition period
- Additional costs associated with headquarters relocation
Insights
The headquarters relocation from Amsterdam to Dubai represents a strategic pivot that goes beyond mere operational restructuring. Dubai's position as a global financial hub, particularly for emerging markets, provides VEON with enhanced access to Middle Eastern capital markets and investors familiar with frontier market dynamics. The DIFC location offers significant tax advantages and regulatory flexibility, potentially improving VEON's financial efficiency.
The consolidation of trading on Nasdaq while maintaining headquarters in Dubai creates an interesting hybrid model that could appeal to both Western institutional investors and Gulf-based sovereign wealth funds. This dual presence might help diversify VEON's investor base and potentially reduce the cost of capital. The company's 160 million connectivity customers and 110 million monthly active digital users across six frontier markets position it uniquely for investors seeking exposure to high-growth digital infrastructure plays in emerging economies.
The strategic downsizing of the Amsterdam office indicates a commitment to cost optimization and streamlined operations. Dubai's geographic positioning between VEON's key markets in Central Asia and South Asia could facilitate more efficient management of its regional operations.
The headquarters relocation carries significant market implications. As the largest Nasdaq-listed company headquartered in Dubai, VEON gains a first-mover advantage in attracting Gulf-based investors who are increasingly seeking tech and telecom exposure. The timing aligns with Dubai's growing prominence as a tech hub and the UAE's strategic push to diversify its economy beyond oil.
The move could potentially lead to improved valuation multiples, as companies headquartered in Dubai often benefit from the region's growth premium. With a market cap of
Dubai, 19 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Group”), today announces that it has completed the move of its Group headquarters from Amsterdam to Dubai, United Arab Emirates.
This announcement follows the approvals in the meetings of the VEON Board of Directors in Amsterdam on 12 December 2024 and in Dubai on 19 December 2024 to move the place of effective management of VEON Ltd. to the Dubai International Financial Centre (DIFC). These approvals, coupled with the headquarter activities that are already performed by the Group in Dubai, completes the move of the Group headquarters to Dubai.
The remaining functionality in the Amsterdam office is expected to be further scaled down in the coming period, as previously announced by the Group.
With the move of its Group headquarters to the Dubai, VEON is now the largest Nasdaq-listed company with its Group headquarters in Dubai, which is also home to Nasdaq Dubai.
“Over the past few months, we have taken a number of steps that simplify our governance and reinforce our strategic alignment to our key markets. With the consolidation of our trading on Nasdaq in New York, United States, and the completion of our Group headquarters move to Dubai, we are well positioned to be a unique opportunity for global investors interested in frontier market growth opportunity. We look forward to benefiting from the opportunities that our Dubai move entails, including access to world class talent and enhanced visibility with Gulf investors,” said Kaan Terzioglu, Group CEO of VEON.
VEON is a Nasdaq-listed company with a global shareholder base. VEON’s Digital Operators serve 160 million connectivity customers, and nearly 110 million monthly active digital users in the six markets where VEON operates: Ukraine, Pakistan, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan.
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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