Ukraine’s largest telecommunications company Kyivstar revealed in its latest update that it plans to list in the United States in the coming months, with a company valuation of $2.21 billion, and hopes that the tech stock-focused Nasdaq platform will attract international investors. Kyivstar’s parent company VEON Group recently announced that it has signed an agreement with Cohen Circle Acquisition Corp, a special purpose acquisition company (SPAC). Ukraine’s largest telecom firm will soon be listed on the Nasdaq stock market under the ticker symbol KYIV, making it the first Ukrainian company to go public in the United States. VEON Chief Executive Kaan Terzioglu stated that Kyivstar is expected to complete its listing in the third quarter, and it still needs the approval of Cohen Circle’s shareholders as well as the fulfillment of some other financial conditions. Terzioglu added: “We believe that Kyivstar’s strong financial position, forward-looking strategy and sound corporate governance structure... will attract a large number of international investors.” The Russia-Ukraine conflict has caused massive damage to Ukraine’s infrastructure, involving multiple sectors such as transportation, energy and communications, and rebuilding these infrastructures requires huge capital investment. It is reported that both the Ukrainian and U.S. governments strongly support this listing project, which is regarded as one of the important ways to rebuild Ukraine’s telecommunications infrastructure. Founded in 1994 and affiliated to the Dutch VEON Group, Kyivstar boasts extensive mobile network coverage across Ukraine. As of December last year, it had more than 23 million mobile users and over 1.1 million fixed-line telephone users. Cohen Circle believes that once Ukraine enters the reconstruction phase, Kyivstar will be an important investment opportunity for international investors. Shah Capital, an activist investor holding a 6.7% stake in VEON, previously suggested that Kyivstar list in Poland or the United Kingdom, and later urged VEON to consider listing on the Nasdaq. In December last year, Kyivstar signed a cooperation agreement with SpaceX under Elon Musk to provide Ukraine with Starlink direct-to-cell (DTC) satellite services. However, the service is expected to launch as early as the fourth quarter of this year, initially supporting SMS and OTT messaging, and will later expand to voice and data services. It is reported that after completing its withdrawal from Russia in 2023, VEON has strengthened its ties with the United States. Former U.S. Secretary of State Mike Pompeo, who served during Trump’s first term, joined Kyivstar’s board of directors that same year. However, given Trump’s chaotic diplomatic and trade policies, there is still a possibility of some changes to Kyivstar’s listing plan. Last month, Trump and Ukrainian President Volodymyr Zelensky clashed at the White House, delaying the signing of a controversial mineral agreement, which strained relations between Kiev and Washington. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd., Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting and Management Co., Ltd. is a domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same actual controller. Both companies share the same actual controller and are managed under the same Chinese management framework, and both comply with the laws of Hong Kong and mainland China.