VEON Ltd. (NASDAQ:VEON) saw its stock jump 17.5% after announcing it secured roughly $52.3 million in non-redemption agreements from accredited institutional investors for its planned merger with Cohen Circle Acquisition Corp. I (NASDAQ: CCIR).
These commitments cover about 5.05 million CCIR Class A shares, surpassing the $50 million cash minimum required to move forward with the transaction. The deal will pave the way for Kyivstar Group to become the first dedicated Ukrainian company listed on a U.S. exchange.
“We’re encouraged by the strong investor backing for Kyivstar Group’s upcoming listing,” said VEON Group CEO Kaan Terzioglu. “We’re excited to complete this transaction and present Kyivstar as a landmark pure-play Ukrainian public company.”
The merger is anticipated to close in Q3 2025, pending shareholder approval and standard closing conditions. Post-close, Kyivstar Group will trade on Nasdaq under the ticker symbol “KYIV.”
Betsy Cohen, Chair and CEO of Cohen Circle Acquisition Corp. I, highlighted the quality of participating investors as a testament to Kyivstar’s promising long-term outlook and its standout position as a Ukrainian success story.
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