VEON Initiates New Phase of USD 35 Million Share Buyback Program

Author: Ryan Hughes Updated: 03-20-2025 02:30 AM

VEON Launches Significant Share Buyback Initiative

VEON Ltd. (NASDAQ: VEON), a leading global digital operator, has announced the upcoming initiation of a second phase in its share buyback program, which will total USD 35 million. This strategic move signifies the company's commitment to bolstering shareholder value and enhancing its financial position.

Details of the Share Buyback Program

The decision to initiate this second phase follows the successful completion of an initial buyback phase amounting to USD 30 million. The first phase was wrapped up at the end of January 2025, and now VEON's Board of Directors is optimistic about continuing this effort, having previously sanctioned a total buyback program valued at up to USD 100 million.

Optimizing Shareholder Value

VEON perceives its American Depositary Shares (ADS) as underappreciated in relation to the company's overall operational performance and strategic objectives. By actively repurchasing its shares, VEON not only aims to enhance its market value but also to strengthen its foundation for future growth opportunities.

Implementation of the Buyback

The buybacks will take place on the open market in alignment with a 10b5-1 plan that has been coordinated with a registered broker-dealer. The specifics regarding the execution of these buybacks will be influenced by various factors, including market dynamics, liquidity conditions, and compliance with applicable regulations. These considerations have been factored into the approval of the second phase of the program, with further phases anticipated to follow the same guidelines to reach the total approved amount of USD 100 million.

About VEON: A Digital Operator with Global Reach

VEON stands out as a digital service provider, offering connectivity and services to nearly 160 million customers. Operating across six countries, the company caters to over 7% of the global population. Through technology-driven solutions, VEON is transforming the landscape of digital services, empowering individuals and paving the way for economic advancement. With its headquarters situated in Dubai, VEON retains a significant presence on NASDAQ, enhancing its profile among global investors.

Contacting VEON for More Information

For inquiries and more detailed information, interested parties can reach out to VEON's Group Director of Communications, Hande Asik, via email at pr@veon.com, or connect with Faisal Ghori, the Group Director of Investor Relations, at ir@veon.com.

Frequently Asked Questions

What is the total value of VEON's share buyback program?

The total approved buyback program is valued at up to USD 100 million, with the second phase involving USD 35 million.

Why is VEON conducting a share buyback?

VEON aims to enhance shareholder value and address perceived undervaluation of its ADS relative to its operational performance.

When did the first phase of the buyback program conclude?

The first phase of the buyback program concluded at the end of January 2025.

How will the buybacks be executed?

The buybacks will be executed on the open market following a structured plan in compliance with legal regulations.

How does VEON contribute to digital connectivity?

VEON provides connectivity and digital services to nearly 160 million users, supporting economic growth and empowering individuals through technology-driven solutions.

About The Author

Hello, my name is Ryan Hughes. I am a financial, economics, and stock market specialist committed to assisting people in negotiating the intricacies of the financial system. Having a great deal of experience and a thorough grasp of market dynamics and economic trends, my area of expertise is converting complex financial ideas into understandable, practical knowledge. By use of my articles and blog entries, I hope to give you the information and assurance you need to make wise financial choices.

I've had the honor of interacting with a wide range of readers as a writer for several financial blogs, from new investors to seasoned market participants. To enable you to reach your financial goals, I want to make finance, economics, and stock market trends understandable and approachable. I appreciate you traveling with me toward success and financial literacy.

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