VEON Announces Euronext Amsterdam Delisting
VEON Ltd., a global digital operator, has embarked on a significant milestone by starting the process to delist its common shares from Euronext Amsterdam. This news comes as part of the Company’s strategy to consolidate trading on the Nasdaq Capital Market in New York. Such a move is aimed at optimizing the trading environment for investors and enhancing liquidity.
Change in Trading Strategy
The delisting from Euronext Amsterdam is a well-thought-out decision backed by the approval from Euronext. VEON's last trading day on this platform will occur soon, allowing the company to focus exclusively on its Nasdaq listings. By transitioning fully to Nasdaq, VEON aims to promote a broader reach among investors with the ticker symbol VEON, ensuring that its American depositary shares can be traded more efficiently.
CEO's Perspective on the Move
Kaan Terzioglu, the CEO of VEON, expressed optimism about the transition, stating, "Our decision to consolidate our trading on Nasdaq aligns with our long-term strategy and the best interests of our investors." He emphasized that this consolidation will significantly strengthen VEON's liquidity and make regulatory reporting more straightforward for the Company.
Support for Shareholders
In light of the transition, VEON is committed to providing convenience and fairness for its shareholders. Before the last trading day, shareholders who do not currently hold a multiple of 25 Common Shares will have the opportunitiy to buy or sell shares to achieve this. This adjustment is crucial since each American depositary share (ADS) corresponds to 25 shares, ensuring a smooth transition.
Depository Solutions Offered
VEON is also facilitating the process for shareholders by allowing them to deposit shares with The Bank of New York Mellon. For every deposit made before the last trading date, the Company will waive AD issuance fees, supporting shareholders in navigating through the transition seamlessly.
Future Prospects and Commitment
Shareholders holding ADSs who are not also in possession of Common Shares listed on Euronext Amsterdam are reminded that no additional action is required from them. As VEON focuses on its primary trading platform on Nasdaq, the Company's commitment to creating value and enhancing accessibility remains steadfast.
About VEON's Operations
As a leader in digital operations, VEON currently reaches nearly 160 million customers across six countries. The Company is dedicated to transforming lives through innovative technology-driven services that not only empower individuals but also promote substantial economic growth. VEON's presence on Nasdaq, paired with its growing business initiatives, positions it favorably within the competitive telecommunications landscape.
Company Contact Information
VEON remains accessible to investors for further inquiries regarding this transition. Interested parties can reach out to:
Hande Asik, Group Director of Strategy and Communication, via email at pr@veon.com
Faisal Ghori, Group Director of Investor Relations, at ir@veon.com
Frequently Asked Questions
Why is VEON delisting from Euronext Amsterdam?
VEON is consolidating its trading operations to Nasdaq for enhanced liquidity and streamlined processes.
What does this mean for VEON shareholders?
Shareholders will need to align their holdings to multiples of 25 Common Shares for effective trading representation on Nasdaq.
Is there any action required for ADS holders?
No action is needed from ADS holders who do not hold shares on Euronext Amsterdam.
When will the delisting be effective?
The delisting will be effective after the last trading day on Euronext, September 22.
How can shareholders get more information?
Shareholders can access detailed information on VEON's official website and from investor relations contacts.
