Latest news with #OleksandrKomarov
Business Insider
5 days ago
- Business
- Business Insider
Kyivstar Hopes to Shine in New York as Ukraine Peace Talks Begin
Shares in Ukrainian mobile operator Kyivstar will start trading in New York today hoping that peace talks to end the devastating war in the country will significantly boost the company's value. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Chief executive officer Oleksandr Komarov said ahead of the Nasdaq listing that the summit between President Trump and Russian leader Vladimir Putin in Alaska, scheduled for August 15 th, would help drive investment into Ukraine if an end to the three-year war is found. Invest in Recovery 'We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support,' Komarov said. Komarov said the company chose Nasdaq, where its Dubai-based parent VEON (VEON) is also listed, over London or Warsaw because it is even more important to 'strengthen the link between the United States and Ukraine rather than between Ukraine and Europe.' VEON shares were up 1.6% in pre-market trading. The company has also strengthened its U.S. ties during the conflict, appointing former U.S. Secretary of State Mike Pompeo to its board and signing a deal with Elon Musk's Starlink for satellite services. Kyivstar, which has been given a pro forma valuation of $2.3 billion, carried out the listing by merging with fintech entrepreneur Betsy Cohen's Cohen Circle special purpose acquisition company (SPAC). The company raised $178 million, confirming earlier reports that it expected up to $200 million. VEON will retain a majority stake in the mobile operator. People's IPO The company has previously stated that it has had extremely strong support for the Kyivstar listing from U.S. authorities, Ukraine and the European Union. Indeed, it has described the listing as 'the people's IPO', hoping that investors around the world would show their support for Ukraine. Kyivstar is the market-leading mobile operator in Ukraine with 24 million subscribers. Analysts agreed that the narrative around the deal was built around Ukraine's postwar reconstruction and digital infrastructure's role in that recovery. However, investors will also likely question the strength of that recovery and the likelihood of any peace deal between Ukraine and Russia holding over the long-term.
Observer
5 days ago
- Business
- Observer
Kyivstar CEO says peace deal would boost value after historic US listing
NEW YORK: A peaceful resolution to the war between Russia and Ukraine would boost the value of Ukrainian mobile operator Kyivstar 'quite significantly', its CEO Oleksandr Komarov said on Friday ahead of the company's stock market listing in New York. Kyivstar's shares will begin trading on the Nasdaq later on Friday, becoming the first Ukraine-based company listed on a US stock exchange. The listing coincides with a summit between US President Donald Trump and Russian President Vladimir Putin in Alaska, a meeting closely watched by Ukraine and European nations as a potential turning point in peace negotiations. "We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support", Komarov said in an interview. Komarov said the company chose Nasdaq, where its parent VEON is also listed, over London or Warsaw because it was even more important to "strengthen the link between the United States and Ukraine rather than between Ukraine and Europe". The company has deepened its US ties during the conflict, appointing former US Secretary of State Mike Pompeo to its board and signing a deal with Elon Musk's Starlink for satellite services. Kyivstar is the biggest mobile operator in Ukraine with 24 million subscribers. Founded in 1994, it became part of Veon in 2010. Apart from telecoms, it owns digital health platform Helsi and ride-hailing firm Uklon. VEON has pitched the listing as an opportunity for foreign investors to bet on Ukraine's reconstruction. But its success hinges in part on a peace deal being achieved. Komarov said that the first few weeks of trading will be extremely volatile. When asked if the outcome of the IPO depends on political developments, he said the volatile external environment was already incorporated in Kyivstar's valuation. Kyivstar, which has been given a pro forma valuation of $2.3 billion, carried out the listing by merging with fintech entrepreneur Betsy Cohen's special purpose acquisition company (SPAC). The company raised $178 million. Reuters earlier reported Kyivstar expected up to $200 million. VEON will retain a majority stake in the mobile operator. Komarov said his firm's Nasdaq debut showed what Ukrainian companies could accomplish by accessing international markets and that prominent Ukrainian businessmen have spoken to him in recent months to hear about Kyivstar's listing strategy. — Reuters
Reuters
5 days ago
- Business
- Reuters
Ukraine's Kyivstar lists in New York as peace talks unfold in Alaska
Aug 15 (Reuters) - Kyivstar (KYIV.O), opens new tab shares dropped over 9% on Friday after the mobile operator became the first Ukrainian company to list in the United States, just hours before a summit between U.S. and Russian leaders to discuss a potential peace deal in Ukraine. The meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin could be a step towards ending a war that has crippled Ukraine's economy, although with Kyiv absent from the talks expectations are low. "We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support," Kyivstar CEO Oleksandr Komarov told Reuters in an interview, adding that a peace deal would help to boost the company's value.. Kyivstar's shares were down 9.3% to $11.5 at 1400 GMT, following their Nasdaq debut. Komarov had warned that Kyivstar's first few weeks of trading would be volatile, adding that a turbulent external environment was already incorporated in its valuation. STRENGTHENING LINKS TO U.S. Komarov said the company chose Nasdaq, where its Dubai-headquartered parent VEON is also listed, over London or Warsaw because it was even more important to "strengthen the link between the United States and Ukraine rather than between Ukraine and Europe". The company has deepened its U.S. ties during the conflict, appointing former U.S. Secretary of State Mike Pompeo to its board and signing a deal with Elon Musk's Starlink for satellite services. Kyivstar is the biggest mobile operator in Ukraine with 24 million subscribers. Founded in 1994, it became part of VEON in 2010. Apart from telecoms, Kyivstar owns digital health platform Helsi and ride-hailing firm Uklon. VEON, which is retaining a majority stake in Kyivstar, pitched the listing as an opportunity for foreign investors to bet on Ukraine's reconstruction. But its success hinges in part on a peace deal being achieved. Activist investor Shah Capital, which has said it will indirectly own over 6% of Kyivstar, told Reuters in an emailed statement that it still expected a "decent part of frozen Russian funds to be used to rebuild Ukraine as part of this ongoing process of peace efforts". Shah is one of VEON's largest shareholders and was the first to publicly urge the group to list its Ukrainian business last year. Kyivstar carried out the listing by merging with fintech entrepreneur Betsy Cohen's special purpose acquisition company. The company raised $178 million. Reuters had previously reported that Kyivstar expected to raise up to $200 million. Komarov said the Nasdaq debut showed what Ukrainian companies could accomplish by accessing international markets and that prominent Ukrainian business leaders had spoken to him in recent months about Kyivstar's listing strategy. "This is one of the dimensions of our integration into the Western world that should be developed and should be supported," he said.
Reuters
5 days ago
- Business
- Reuters
Kyivstar CEO says Russia-Ukraine peace deal would boost value after historic U.S. listing
Aug 15 (Reuters) - A peaceful resolution to the war between Russia and Ukraine would boost the value of Ukrainian mobile operator Kyivstar "quite significantly", its CEO Oleksandr Komarov said on Friday ahead of the company's stock market listing in New York. Kyivstar's shares will begin trading on the Nasdaq later on Friday, becoming the first Ukraine-based company listed on a U.S. stock exchange. The listing coincides with a highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, a meeting closely watched by Ukraine and European nations as a potential turning point in peace negotiations. "We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support," Komarov said in an interview. Komarov said the company chose Nasdaq, where its parent VEON is also listed, over London or Warsaw because it is even more important to "strengthen the link between the United States and Ukraine rather than between Ukraine and Europe." The company has deepened its U.S. ties during the conflict, appointing former U.S. Secretary of State Mike Pompeo to its board and signing a deal with Elon Musk's Starlink for satellite services. VEON has pitched the listing as an opportunity for foreign investors to bet on Ukraine's reconstruction. But its success hinges in part on a peace deal being achieved. Komarov said that the first few weeks of trading will be extremely volatile. When asked if the outcome of the IPO depends on political developments, he said the volatile external environment was already incorporated in Kyivstar's valuation. Kyivstar, which has been given a pro forma valuation of $2.3 billion, carried out the listing by merging with fintech entrepreneur Betsy Cohen's Cohen Circle special purpose acquisition company (SPAC). The company raised $178 million, confirming a Reuters report saying Kyivstar expected up to $200 million. VEON will retain a majority stake in the mobile operator.
Yahoo
5 days ago
- Business
- Yahoo
Kyivstar CEO says Russia-Ukraine peace deal would boost value after U.S. listing
(Reuters) -A peaceful resolution to the war between Russia and Ukraine would boost the value of Ukrainian mobile operator Kyivstar "quite significantly", its CEO Oleksandr Komarov said on Friday ahead of the company's New York listing. "We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support," Komarov said in an interview with Reuters. Kyivstar is set to debut trading on the Nasdaq later on Friday, becoming the first Ukraine-based company listed on a U.S. stock exchange. The IPO coincides with a highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, a meeting closely watched by Ukraine and European nations as a potential turning point in peace negotiations.
