VEON

VEON Pays Back Outstanding Balance and Cancels its Revolving Credit Facility

Retrieved on: 
Thursday, March 28, 2024
RCF, VEON, Euronext Amsterdam, Credit

Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.

Key Points: 
  • Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.
  • The repayment of the outstanding amount and the cancellation of the RCF will reduce VEON’s interest expenses, in line with our effective cash and balance sheet management practices.
  • Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No.
  • 596/2014.

VEON Announces Sale of Stake in Beeline Kyrgyzstan, increasing the focus on its large markets

Retrieved on: 
Tuesday, March 26, 2024
VEON, Completion, Chaudhary Group, Health, Education, Sale, Euronext Amsterdam, Cryptocurrency

Amsterdam, 26 March 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that it has signed an agreement for the sale of its 50.1% indirect stake in Beeline Kyrgyzstan to CG Cell Technologies, which is wholly owned by CG Corp Global.

Key Points: 
  • Amsterdam, 26 March 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that it has signed an agreement for the sale of its 50.1% indirect stake in Beeline Kyrgyzstan to CG Cell Technologies, which is wholly owned by CG Corp Global.
  • The sale is a part of VEON’s strategy to simplify the Group’s structure and focus on its large markets where it can create scale with its DO1440 digital operator model, providing digital services in finance, entertainment, healthcare and education.
  • The transaction values Beeline Kyrgyzstan’s business at 3.4x 2023 EBITDA (pre-IFRS16).
  • CG Corp Global issued the following statement on the agreement: “We are very pleased to become a major investor in the Kyrgyzstan telecommunications market with the purchase of the majority stake in Beeline Kyrgyzstan.

VEON 4Q23 trading update: Strong organic growth in revenue and EBITDA, solid execution of VEON 2.0 strategy

Retrieved on: 
Thursday, March 21, 2024
VEON, Growth, Health, FY, Education, Capital expenditure, Yoy, Euronext Amsterdam, USD, HQ, Total, LTM, Cryptocurrency

In 4Q23, VEON continued to report growth in revenues in reported currency terms with double digit local currency top-line growth.

Key Points: 
  • In 4Q23, VEON continued to report growth in revenues in reported currency terms with double digit local currency top-line growth.
  • Total revenues reached USD 953 million, an increase of 1.4% YoY in reported currency (+17.9% YoY in local currency normalised for one-offs).
  • VEON has announced its full-year revenue guidance of 16-18% growth in local currency, EBITDA guidance of 18%-20% growth, and outlook for the Group’s capex intensity for 2024 year at 18%-19%.
  • We are pleased to guide the market for continued strong and profitable growth in 2024, maintaining our focus on financial discipline and balance sheet management.”

Banglalink Gets Unified Licence to Deliver Superior Digital Services in Bangladesh

Retrieved on: 
Monday, March 18, 2024
VEON, Euronext Amsterdam, Bangladesh Telecommunication Regulatory Commission, Government, BTRC, Cryptocurrency

Amsterdam and Dhaka, 18 March 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that Banglalink, its leading innovative digital service provider in Bangladesh, has received a unified licence from the Bangladesh Telecommunication Regulatory Commission (BTRC).

Key Points: 
  • Amsterdam and Dhaka, 18 March 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that Banglalink, its leading innovative digital service provider in Bangladesh, has received a unified licence from the Bangladesh Telecommunication Regulatory Commission (BTRC).
  • “The unified licence frees up capacity for Banglalink to deliver superior digital services, enhance connectivity to its customers and streamline the user experience that it provides.
  • “As we award Banglalink the unified licence, we step closer to our goal of a streamlined telecom sector for a Smart Bangladesh.
  • Erik Aas, Chief Executive Officer of Banglalink, received the unified licence from Engineer Md Mohiuddin Ahmed, Chairman of the BTRC in Dhaka on 14 March 2024.

VEON appoints PwC as 2023 auditors, provides updates on reporting timelines

Retrieved on: 
Thursday, March 14, 2024
ISA, VEON, Annual report, International standard, Bank statement, Market, International Standards on Auditing, PCAOB, RCF, Euronext Amsterdam, Audit

The delays arise from the difficulties that the Company has faced in identifying a suitable auditor due to the material changes in the Group’s portfolio of assets.

Key Points: 
  • The delays arise from the difficulties that the Company has faced in identifying a suitable auditor due to the material changes in the Group’s portfolio of assets.
  • A suitable auditor that is qualified to provide these services in the countries where VEON operates has not yet been identified.
  • The Company will provide further updates in the future on its progress and the status of the matters mentioned herein.
  • As previously announced, VEON will release its unaudited selected financial and operating results for the fourth quarter and the twelve months ended December 31, 2023 on March 21, 2024.

Ørsted appoints new Group CFO and COO

Retrieved on: 
Wednesday, March 13, 2024
CFO, Centrica, Senior, Risk management, Chairperson, Hornsea, Maersk, EDF Energy, MBA, Wilhelmsen, Arendals Fossekompani, Aker Solutions, VEON, Management

Today, Ørsted’s Board of Directors has appointed Trond Westlie as Ørsted’s next Group Chief Financial Officer (CFO) and member of the Executive Board and the Group Executive Team effective as of 1 April 2024.

Key Points: 
  • Today, Ørsted’s Board of Directors has appointed Trond Westlie as Ørsted’s next Group Chief Financial Officer (CFO) and member of the Executive Board and the Group Executive Team effective as of 1 April 2024.
  • On the same date, Patrick Harnett will join Ørsted’s Group Executive Team as Chief Operational Officer (COO).
  • Trond Westlie has served as Group CFO at A.P.
  • Thomas Thune Andersen, Chair of the Board of Directors of Ørsted A/S, says:
    “On behalf of the Board, I’m very pleased to announce Trond Westlie as our next Group CFO and Patrick Harnett as our next COO.

VEON to Hold Capital Markets Day on June 6, 2024

Retrieved on: 
Monday, March 11, 2024
Euronext Amsterdam, Capital market, VEON

VEON to Hold Capital Markets Day on June 6, 2024

Key Points: 
  • VEON to Hold Capital Markets Day on June 6, 2024
    Amsterdam, 11 March 2024: VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that the company will hold a Capital Markets Day on Thursday, June 6, 2024.
  • In order to indicate your interest in VEON’s 2024 Capital Markets Day, please register here: https://brookepeeladvisors.eventogy.com/c/veoncapitalmarketsday2024 .
  • This event is reserved for investors and analysts only.

MSCI upgrades VEON to 'AA' ESG Rating

Retrieved on: 
Monday, March 4, 2024
ESG, AA, Euronext Amsterdam, Certification, VEON

Amsterdam, 4 March 2024: VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that, MSCI has raised the Company’s Environmental, Social, and Governance (ESG) rating to 'AA' from 'A'.

Key Points: 
  • Amsterdam, 4 March 2024: VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that, MSCI has raised the Company’s Environmental, Social, and Governance (ESG) rating to 'AA' from 'A'.
  • This upgrade positions VEON within the ‘Leaders’ category amongst the 131 telecommunication services companies evaluated by MSCI, demonstrating our commitment to sustainable and ethical business operations.
  • The ESG rating agency also named VEON’s exit from Russia as a factor contributing to the rating upgrade.
  • For further details on VEON and our ESG practices, please visit our website at https://www.veon.com/we-are-veon/sustainability .

VEON announces the issuance of previously authorized shares representing approximately 4.99% of total share capital

Retrieved on: 
Friday, March 1, 2024
USD, Growth, Euronext Amsterdam, LetterOne, VEON, Security (finance)

As a result of the issuance, VEON will have 1,849,190,667 issued and outstanding ordinary shares.

Key Points: 
  • As a result of the issuance, VEON will have 1,849,190,667 issued and outstanding ordinary shares.
  • The issuance of the ordinary shares in accordance with bye-law 3.1 of the VEON bye-laws represents approximately 4.99% of VEON's authorised ordinary shares.
  • The shares will be initially issued to VEON Holdings BV (and in accordance with Bermuda law are considered fully issued and outstanding shares).
  • The ordinary shares will be issued at a price of USD 0.001 per share, which is equal to the nominal value of VEON's ordinary shares.

VEON’s Kyivstar Awarded “Best Mobile Innovation Supporting Emergency or Humanitarian Situations” at GLOMOs

Retrieved on: 
Thursday, February 29, 2024
Volodymyr, Investment, Mobile World Congress, Euronext Amsterdam, VEON

Kyivstar CTO Volodymyr Lutchenko accepted the award in a ceremony organized as a part of the MWC24, Mobile World Congress in Barcelona.

Key Points: 
  • Kyivstar CTO Volodymyr Lutchenko accepted the award in a ceremony organized as a part of the MWC24, Mobile World Congress in Barcelona.
  • “It is an honour to be recognized with a GLOMO for the Kyivstar team’s tremendous work in providing a lifeline to Ukraine.
  • Kyivstar is the largest telecoms operator in Ukraine with 24 million mobile subscribers and over 1.1 million home internet subscribers.
  • VEON and Kyivstar have committed 600m USD in investments over the next three years to support Ukraine’s reconstruction and recovery.