VEON to Proceed with USD 35 Million Share Buyback
VEON (Nasdaq: VEON) has announced the commencement of the second phase of its share buyback program, allocating USD 35 million for repurchasing American Depositary Shares (ADS). This follows the successful completion of the first phase, which utilized USD 30 million and concluded on January 27, 2025.
The initiative is part of a larger USD 100 million share buyback program approved by VEON's Board of Directors on July 31, 2024. The company believes its ADSs are currently undervalued relative to its operational performance and strategic potential. The buybacks will be executed on the open market through a 10b5-1 plan with a registered broker-dealer, complying with Rule 10b-18.
VEON (Nasdaq: VEON) ha annunciato l'inizio della seconda fase del suo programma di riacquisto di azioni, destinando 35 milioni di USD per il riacquisto di American Depositary Shares (ADS). Questo segue il completamento con successo della prima fase, che ha utilizzato 30 milioni di USD e si è conclusa il 27 gennaio 2025.
L'iniziativa fa parte di un più ampio programma di riacquisto di azioni da 100 milioni di USD approvato dal Consiglio di Amministrazione di VEON il 31 luglio 2024. L'azienda ritiene che i suoi ADS siano attualmente sottovalutati rispetto alle sue performance operative e al potenziale strategico. I riacquisti saranno eseguiti sul mercato aperto tramite un piano 10b5-1 con un broker-dealer registrato, in conformità con la Regola 10b-18.
VEON (Nasdaq: VEON) ha anunciado el inicio de la segunda fase de su programa de recompra de acciones, asignando 35 millones de USD para la recompra de American Depositary Shares (ADS). Esto sigue a la exitosa finalización de la primera fase, que utilizó 30 millones de USD y concluyó el 27 de enero de 2025.
La iniciativa es parte de un programa de recompra de acciones de 100 millones de USD aprobado por la Junta Directiva de VEON el 31 de julio de 2024. La compañía cree que sus ADS están actualmente subvalorados en relación con su desempeño operativo y potencial estratégico. Las recompras se llevarán a cabo en el mercado abierto a través de un plan 10b5-1 con un corredor-dealer registrado, cumpliendo con la Regla 10b-18.
VEON (Nasdaq: VEON)은 두 번째 단계의 자사주 매입 프로그램 시작을 발표하며, 3500만 달러를 미국 예탁주식(ADS) 재매입에 할당했습니다. 이는 2025년 1월 27일에 완료된 첫 번째 단계의 성공적인 완료에 이어지는 것입니다.
이 이니셔티브는 VEON 이사회가 2024년 7월 31일 승인한 1억 달러 자사주 매입 프로그램의 일환입니다. 회사는 현재 ADS가 운영 성과와 전략적 잠재력에 비해 저평가되어 있다고 믿고 있습니다. 매입은 등록된 브로커-딜러와 함께 10b5-1 계획을 통해 공개 시장에서 실행되며, 규칙 10b-18을 준수합니다.
VEON (Nasdaq: VEON) a annoncé le lancement de la deuxième phase de son programme de rachat d'actions, allouant 35 millions USD pour le rachat d'American Depositary Shares (ADS). Cela fait suite à l'achèvement réussi de la première phase, qui a utilisé 30 millions USD et s'est terminée le 27 janvier 2025.
Cette initiative fait partie d'un programme de rachat d'actions de 100 millions USD approuvé par le Conseil d'Administration de VEON le 31 juillet 2024. L'entreprise estime que ses ADS sont actuellement sous-évalués par rapport à sa performance opérationnelle et à son potentiel stratégique. Les rachats seront effectués sur le marché ouvert via un plan 10b5-1 avec un courtier enregistré, conformément à la règle 10b-18.
VEON (Nasdaq: VEON) hat den Beginn der zweiten Phase seines Aktienrückkaufprogramms angekündigt und 35 Millionen USD für den Rückkauf von American Depositary Shares (ADS) bereitgestellt. Dies folgt auf den erfolgreichen Abschluss der ersten Phase, die 30 Millionen USD in Anspruch nahm und am 27. Januar 2025 endete.
Die Initiative ist Teil eines größeren Aktienrückkaufprogramms von 100 Millionen USD, das vom Vorstand von VEON am 31. Juli 2024 genehmigt wurde. Das Unternehmen ist der Meinung, dass seine ADS im Verhältnis zu seiner operativen Leistung und strategischen Potenzial derzeit unterbewertet sind. Die Rückkäufe werden auf dem offenen Markt durch einen 10b5-1-Plan mit einem registrierten Broker-Dealer durchgeführt und entsprechen der Regel 10b-18.
- USD 35 million commitment to share buybacks demonstrates strong financial position
- Successful completion of first phase (USD 30 million) shows execution capability
- Total USD 100 million buyback program signals confidence in company's value
- Company acknowledges its shares are undervalued
- Buyback timing and execution subject to market conditions and liquidity constraints
VEON to Proceed with USD 35 Million Share Buyback
Announcement marks second phase of USD 100 million share buyback program
announced on August 1, 2024
Dubai, March 20, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that it will shortly commence the second phase of its previously announced share buyback program with respect to the Company’s American Depositary Shares (“ADS”). This second phase of the buyback will be in the amount of up to USD 35 million.
The second phase of the share buyback program is being launched after completion of the USD 30 million first phase on January 27, 2025. VEON’s Board of Directors approved a share buyback program of up to USD 100 million on July 31, 2024.
The Company continues to believe that its ADSs are undervalued relative to its operational performance and strategic potential. By repurchasing ADSs, VEON aims to optimize shareholder value and strengthen its financial position for future opportunities.
The buybacks will be conducted on the open market pursuant to a 10b5-1 plan signed with a registered broker-dealer, and in compliance with Rule 10b-18. Decisions on the timing and the specifics of the buybacks are subject to liquidity considerations, market conditions, applicable legal requirements, and other factors. Such factors have been taken into account in the approval process of the second USD 35 million phase of the program; subsequent phases are expected to be carried out in the same manner, up to the authorized USD 100 million amount.
About VEON
VEON is a digital operator that provides 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 initiation and continuation of its buyback program. 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. There can be no assurance that the initiatives referred to above will be successful.
Contact Information
Hande Asik
Group Director of Communications
pr@veon.com
Faisal Ghori
Group Director of Investor Relations
ir@veon.com
FAQ
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