VEON Ltd (AS:VON) . (NASDAQ:VEON) stock surged 17.5% after the global digital operator announced it has secured approximately $52.3 million in non-redemption agreements for its proposed business combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR).
The agreements with accredited institutional investors, including Helikon and Clearline, cover approximately 5.05 million CCIR Class A shares, fulfilling the minimum $50 million cash condition required for the business combination to proceed. This transaction is expected to result in Kyivstar Group becoming the first pure-play Ukrainian company to be publicly listed on a U.S. stock exchange.
“We are pleased to see the level of investor support for the listing of Kyivstar Group,” said Kaan Terzioglu, VEON Group CEO. “We look forward to completing the business combination and introducing Kyivstar Group as the first pure-play Ukrainian company to be publicly listed on a U.S. stock exchange.”
The business combination is expected to close during the third quarter of 2025, subject to Cohen Circle’s shareholder approval and other customary closing conditions. Upon completion, Kyivstar Group is expected to list on the Nasdaq Stock Market under the ticker symbol “KYIV.”
Betsy Cohen, Chairman and CEO of Cohen Circle Acquisition Corp. I, noted that the caliber of participating investors “further validates our strong conviction in Kyivstar Group’s long-term potential, and highlights the investment case for this robust success story from Ukraine.”
