VEON Shares Now Trade Exclusively on Nasdaq in New York
VEON (Nasdaq: VEON) has consolidated its share trading exclusively on the Nasdaq Capital Market in New York, discontinuing its listing on Euronext Amsterdam. This strategic move aims to enhance trading liquidity and simplify reporting requirements. The company's shares will continue trading as American depositary shares (ADSs), with each ADS representing 25 common shares under the ticker symbol VEON.
Additionally, VEON has announced plans to relocate its Group headquarters to Dubai, positioning itself closer to its Central and South Asian markets and increasing visibility among Gulf investors. Upon completion, VEON will become the largest Nasdaq-listed company headquartered in Dubai.
VEON (Nasdaq: VEON) ha consolidato il suo scambio di azioni esclusivamente sul Nasdaq Capital Market di New York, interrompendo la sua quotazione su Euronext Amsterdam. Questa mossa strategica mira a migliorare la liquidità degli scambi e semplificare i requisiti di reporting. Le azioni dell'azienda continueranno a essere scambiate come American depositary shares (ADS), con ogni ADS che rappresenta 25 azioni ordinarie sotto il simbolo ticker VEON.
Inoltre, VEON ha annunciato piani per trasferire la propria sede centrale a Dubai, posizionandosi più vicino ai suoi mercati dell'Asia Centrale e Meridionale e aumentando la visibilità tra gli investitori del Golfo. Al termine, VEON diventerà la più grande azienda quotata al Nasdaq con sede a Dubai.
VEON (Nasdaq: VEON) ha consolidado su negociación de acciones exclusivamente en el Nasdaq Capital Market de Nueva York, descontinuando su listado en Euronext Ámsterdam. Este movimiento estratégico tiene como objetivo mejorar la liquidez de las operaciones y simplificar los requisitos de reporte. Las acciones de la compañía continuarán negociándose como American depositary shares (ADS), con cada ADS representando 25 acciones comunes bajo el símbolo de cotización VEON.
Además, VEON ha anunciado planes para trasladar su sede central a Dubái, posicionándose más cerca de sus mercados de Asia Central y del Sur y aumentando la visibilidad entre los inversores del Golfo. Una vez completado, VEON se convertirá en la mayor empresa listada en Nasdaq con sede en Dubái.
VEON (Nasdaq: VEON)은 뉴욕의 Nasdaq Capital Market에서 주식 거래를 통합하고 Euronext Amsterdam에서의 상장을 중단했습니다. 이 전략적인 조치는 거래 유동성을 향상시키고 보고 요구 사항을 단순화하기 위한 것입니다. 회사의 주식은 American depositary shares (ADS)로 계속 거래되며, 각 ADS는 VEON이라는 종목 기호 하에 25개의 보통주를 대표합니다.
또한 VEON은 그룹 본사를 두바이로 이전할 계획을 발표하여 중앙 및 남아시아 시장에 더 가깝게 위치하고 걸프 투자자들 사이에서 가시성을 높이고 있습니다. 완료되면 VEON은 두바이에 본사를 둔 가장 큰 Nasdaq 상장 회사가 될 것입니다.
VEON (Nasdaq: VEON) a consolidé la négociation de ses actions exclusivement sur le Nasdaq Capital Market à New York, mettant fin à son inscription sur Euronext Amsterdam. Ce mouvement stratégique vise à améliorer la liquidité de la négociation et à simplifier les exigences de reporting. Les actions de l'entreprise continueront à être négociées sous forme d'American depositary shares (ADS), chaque ADS représentant 25 actions ordinaires sous le symbole boursier VEON.
De plus, VEON a annoncé des plans pour transférer son siège social à Dubaï, se positionnant plus près de ses marchés d'Asie centrale et du sud et augmentant sa visibilité auprès des investisseurs du Golfe. Une fois terminé, VEON deviendra la plus grande entreprise cotée au Nasdaq ayant son siège à Dubaï.
VEON (Nasdaq: VEON) hat den Handel seiner Aktien ausschließlich am Nasdaq Capital Market in New York konsolidiert und die Notierung an der Euronext Amsterdam eingestellt. Diese strategische Entscheidung zielt darauf ab, die Handelsspanne zu verbessern und die Berichtspflichten zu vereinfachen. Die Aktien des Unternehmens werden weiterhin als American depositary shares (ADS) gehandelt, wobei jede ADS 25 Stammaktien unter dem Tickersymbol VEON repräsentiert.
Darüber hinaus hat VEON Pläne angekündigt, seinen Hauptsitz nach Dubai zu verlegen, um sich näher an seinen Märkten in Zentral- und Südasien zu positionieren und die Sichtbarkeit bei Investoren im Golfraum zu erhöhen. Nach Abschluss wird VEON das größte an der Nasdaq notierte Unternehmen mit Sitz in Dubai sein.
- Consolidation of trading on Nasdaq expected to enhance trading liquidity
- Simplified reporting requirements through single-exchange listing
- Strategic relocation to Dubai positions company closer to key markets
- Delisting from Euronext Amsterdam may reduce European investor access
- Additional steps required for European shareholders to convert shares to ADSs
Insights
The consolidation of VEON's trading to Nasdaq represents a significant strategic shift with several key implications. Moving from a dual-listing structure to a single US listing should improve trading efficiency and liquidity by concentrating all trading volume in one market. The concurrent headquarters relocation to Dubai positions VEON as the largest Nasdaq-listed company headquartered in Dubai, potentially attracting Middle Eastern investors and aligning operations closer to their Central and South Asian markets.
The simplified reporting structure and consolidated trading venue should reduce administrative costs and streamline investor communications. The company's offering of ADSs (25 common shares per ADS) provides international investors easier access to frontier market exposure through a regulated US exchange. The temporary coverage of ADS issuance fees until December 6, 2024, facilitates a smooth transition for European shareholders.
Amsterdam, Dubai and New York, November 25, 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), today announces the consolidation of its share trading on the Nasdaq Capital Market in New York.
Effective from today, VEON's common shares are no longer listed or traded on Euronext Amsterdam, with all public trading of VEON's equity securities now concentrated on Nasdaq. This strategic move is aimed at enhancing trading liquidity and simplifying reporting requirements for the company.
"The consolidation of our trading on Nasdaq marks a significant milestone in VEON's capital markets journey. As a US-listed company, VEON offers our investors a unique opportunity to participate in the growth of some of the world’s most dynamic frontier markets. With our shares traded exclusively on Nasdaq, we will continue to focus on improving the accessibility of our growth story for our current and potential investors,” said VEON Group CEO Kaan Terzioglu.
VEON has also previously announced the decision to move its Group headquarters to Dubai, in closer proximity to the Company’s Central and South Asian markets and increasing the visibility of VEON for Gulf investors. When the move is completed, VEON will be the largest Nasdaq-listed company with a Group headquarters in Dubai.
VEON's common shares will continue to be traded on Nasdaq as American depositary shares (ADSs), each representing 25 common shares, under the ticker symbol VEON.
For VEON’s Euronext Amsterdam shareholders who still hold Common Shares and wish to deposit their Common Shares with the Company’s depositary, The Bank of New York Mellon, in exchange for delivery of ADSs, VEON will continue to pay the ADS issuance fees until 6 December 2024.
VEON investors can access further information on VEON’s website: www.veon.com/investors.
About VEON
VEON is a Nasdaq-listed 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 announcement shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares or ADSs, nor shall there be any sale of the Common Shares or ADSs in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities described in this announcement have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements.
Forward-looking statements
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, simplifying the Company’s reporting requirements and the anticipated trading volume that may result from the Euronext Amsterdam Delisting. 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, including the important factors discussed under the caption Risk Factors in VEON’s annual report on Form 20-F for the year ended 31 December 2023, which is on file with the U.S. Securities and Exchange Commission (SEC) and is available on the SEC website at www.sec.gov. 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. There can be no assurance that the initiatives referred to above will be successful.
Contact Information:
Hande Asik
Group Director of Strategy and Communication
pr@veon.com
Faisal Ghori
Group Director of Investor Relations
ir@veon.com
FAQ
When did VEON stop trading on Euronext Amsterdam?
How many common shares does one VEON ADS represent?
Until when will VEON cover ADS issuance fees for Euronext shareholders?
Where is VEON relocating its Group headquarters?
