Companies

Kyivstar

Kyivstar is Ukraine’s leading digital operator, providing mobile, digital, and fixed-line services. It also owns Kyivstar.Tech, a data and technology services arm; Helsi, a digital health service provider; and Kyivstar TV, a digital content platform. In 2025, Kyivstar further expanded its ecosystem by acquiring Uklon, Ukraine’s leading ride-hailing and delivery platform.

Shareholders Structure

SUMMARY

Market Price ($)	11.85
Market Cap ($m)	2,736
Enterprise Value ($m)	-
Shares Outstanding	230,863,523
Code	KYIV US

Recommendations

FV ($)	****
Upside (%)	****
Recommendation	****

Indicator	2020	2021	2022	2023	2024
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EBITDA ($m)	-	-	***	***	***
Net Income ($m)	-	-	***	***	***
Net Debt ($m)	-	-	***	***	***

Indicator	2020	2021	2022	2023	2024
P/E	-	-	***	***	***
P/Sales	-	-	***	***	***
EV/EBITDA	-	-	***	***	***
P/Book	-	-	***	***	***

Kyivstar — Parent sells 5% stake at $10.5 per share

Nasdaq-listed Kyivstar, Ukraine’s largest mobile network operator and leading digital player, announced that the secondary sale of 12.5 million shares in the company by parent VEON Ltd and SPAC sponsors was priced at $10.50 per share. In connection with the offering, the sellers granted underwriters (Morgan Stanley, Barclays, Cantor Fitzgerald, and Rothschild) a 30-day option to purchase up to 1.875 million additional shares at the offer price. The transaction is expected to close today.

Jan 29, 2026

| TMT

Kyivstar — Parent selling 5% stake, discloses selected 2025 financials

Nasdaq-listed Kyivstar, Ukraine’s largest mobile network operator and a leading digital player, announced a prospective secondary offering of 12.5 million shares. Of these, 12.1 million shares will be sold by its parent, VEON Ltd (via VEON Amsterdam B.V.), with the remainder offered by SPAC sponsor Cohen Circle, LLC.