VEON Expands Operations with New License in Dubai
VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) has reached an exciting milestone by securing the commercial license for its branch office in the Dubai International Financial Centre (DIFC). This development underscores VEON's commitment to enhancing its presence in a region ripe with opportunity.
A Strategic Move for VEON
The Group's CEO, Kaan Terzioglu, expressed enthusiasm about the licensing approval, stating, "We are pleased to receive the necessary licenses from Dubai authorities for our branch office. These approvals enable us to upgrade our presence in Dubai in line with our plans to move VEON’s headquarters to the DIFC." This move positions VEON favorably within the Gulf market, reflecting a strategic decision to be closer to key stakeholders and investors.
Headquarters Transition to DIFC
Previously, VEON announced its intentions to relocate its headquarters from Amsterdam to the DIFC. Once finalized, this transition will mark VEON as the largest Nasdaq-listed company headquartered in Dubai. This aligns with VEON’s vision of harnessing opportunities within the regional market while maintaining a robust global presence.
VEON's Global footprint
As a leading global digital operator, VEON serves nearly 160 million connectivity customers and boasts over 100 million monthly active users for its digital services. The Group operates in six countries, including Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan, contributing to over 7% of the world's population. This vast reach enables VEON to deliver essential services that uplift individual lives and stimulate economic development.
Investment Opportunities with VEON
Since its listing on the Nasdaq Stock Exchange in 2013, VEON has offered global investors a unique chance to be part of growth in the frontier markets where the Group operates. The recent expansion in Dubai is expected to enhance investor confidence and attract more funding for its innovative projects and services.
Frequently Asked Questions
What does VEON's new license in Dubai entail?
VEON has secured a commercial license for its branch office in the Dubai International Financial Centre, enhancing its operational capabilities in the region.
Why is VEON moving its headquarters to Dubai?
The move to Dubai aims to position VEON closer to its markets and increase visibility among Gulf investors, promoting strategic business development.
How many customers does VEON serve?
VEON serves nearly 160 million customers for connectivity and has over 100 million active users for its digital services worldwide.
What markets does VEON operate in?
VEON operates in Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan, which together represent a significant global population share.
When did VEON go public?
VEON was listed on the Nasdaq Stock Exchange in 2013, offering unique investment opportunities in emerging markets.
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