VEON Unifies Its Trading on Nasdaq, Exiting Euronext Amsterdam
VEON Begins Delisting from Euronext Amsterdam
VEON Ltd. (Nasdaq: VEON; Euronext Amsterdam: VEON) has initiated the process of delisting its common shares from Euronext Amsterdam. This significant move followed the necessary approvals, with the last trading day scheduled for 22 November. Post this date, VEON shares will be exclusively traded on the Nasdaq Capital Market.
Why Consolidate Trading on Nasdaq?
Consolidating its trading on Nasdaq is a strategic decision aimed at enhancing liquidity. Kaan Terzioglu, the Group CEO, expressed that this move aligns with the long-term interests of VEON's investors and the company's operational efficiencies. He emphasized that this transition serves to simplify the reporting processes, thereby benefiting all shareholders.
Key Benefits of the Move
By trading solely on Nasdaq, VEON aims to improve its market position and visibility among investors. The company will offer American depositary shares (ADSs), each representing 25 common shares. This arrangement allows investors to conveniently invest while streamlining the ownership process.
Support for Current Shareholders
VEON is dedicated to ensuring a smooth transition for all shareholders affected by the delisting. Current holders will have the opportunity to adjust their shareholdings to meet the multiples required for ADS issuance. The company will absorb the ADS issuance fees for those who deposit their common shares with the designated depositary during a specified period.
About VEON: A Digital Operator
VEON operates as a digital connectivity provider for approximately 160 million customers across several countries. Their services are designed to empower individuals and stimulate economic development through technology. The commitment to customer experience and innovation sets VEON apart in the telecommunications sector.
Future Growth and Strategic Direction
As VEON continues to enhance its operational footprint, the recent decision to consolidate trading indicates a significant step in the company's growth trajectory. By focusing on Nasdaq, VEON not only aligns its market presence but also accommodates a broader investment community, ensuring sustainable growth and development in emerging markets.
Frequently Asked Questions
1. What is the reason for VEON's delisting from Euronext Amsterdam?
VEON is consolidating its trading to Nasdaq to enhance liquidity and streamline reporting processes for its investors.
2. When will the last trading day be on Euronext Amsterdam?
The last trading day on Euronext Amsterdam is scheduled for 22 November.
3. How can existing shareholders manage their shares during this transition?
Shareholders will have the opportunity to ensure their holdings are in multiples of 25 to facilitate the issuance of corresponding ADS.
4. Who should existing ADS holders contact regarding the delisting?
Existing ADS holders do not need to take action but can reach out to VEON’s Investor Relations for any inquiries.
5. What is VEON's strategy moving forward?
VEON aims to leverage its Nasdaq listing to attract more investors and enhance liquidity while focusing on technological innovations for customer empowerment.
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