“Kyivstar listed on Nasdaq in the US: what does it mean for the company and the Ukrainian economy
31 August 04:01
Kyivstar, Ukraine’s largest mobile operator, has listed its shares on the Nasdaq stock exchange. This is the first time for a Ukrainian business.
This was reported by "Komersant Ukrainian".
Kyivstar Group Ltd, which includes the Ukrainian mobile operator Kyivstar, officially entered the US stock market on August 29.
The company’s president, Oleksandr Komarov, along with Prime Minister Yulia Svyrydenko, Head of the Office of the President of Ukraine Andriy Yermak, and Minister of Economy Oleksiy Sobolev, made a symbolic first call to mark the placement of Kyivstar shares on the Nasdaq stock exchange in New York.
The company’s estimated capitalization after the listing is $2.8 billion.
The listing on Nasdaq strengthens Kyivstar’s international visibility and emphasizes the resilience of the Ukrainian business, the issuer said.
The presence on the stock exchange means constant access to investors’ money, as the issuing company can issue additional shares if necessary, i.e. obtain capital for the implementation of new projects.
Recently, Kyivstar has set a course to transform from a mobile operator into a technology company that creates a digital ecosystem around the telecom business. For example, the company has acquired the online taxi service Uklon and the drug booking service Tabletki.ua, and started implementing Direct to Cell technology (mobile phone communication directly with communication satellites).
Investors will be analyzing the company’s steps towards its transformation from a mobile operator to a technology company, which could increase the value of its shares on the stock exchange.
