Veon Ltd Stock Price, News & Analysis

VEON Group has announced strategic updates, including an invitation for discussions with 2023 noteholders to enhance liquidity and ensure long-term financial stability. The company reported a 16.5% year-on-year increase in 4G users, reaching 105.8 million, which constitutes 52% of its customer base. Notably, five of its seven markets demonstrated double-digit revenue growth for 8M 2022, with a strong focus on expanding digital services in high-growth regions like Pakistan and Bangladesh. VEON’s recent liquidity position stands at $3.2 billion post the sale of its Algerian operator, Djezzy, for $682 million.

VEON Ltd. announces an invitation to holders of its 2023 Notes to engage in discussions regarding the USD 529.32 million of 5.950% notes due 13 February 2023 and USD 700 million of 7.250% notes due 26 April 2023. This engagement is aimed at beneficial holders of the 2023 Notes. However, VEON cannot engage with those subject to asset freezes under applicable sanctions. VEON, headquartered in Amsterdam, serves over 200 million customers and drives digital inclusion.

VEON Ltd. has announced initiatives to bridge the IT talent gap in Uzbekistan, crucial for its goal of becoming a Central Asian IT hub. Through its subsidiary, Beeline Uzbekistan, VEON will establish a regional hub for AdTech services and expand its big data analytics and cybersecurity labs, hiring up to 70 digital professionals in the coming year. The BeeLab facility aims to grow from 130 to over 250 employees by the end of 2023, focusing on data analytics and cybersecurity for financial clients across the region.

VEON Ltd. has received an additional 180-day grace period from Nasdaq to comply with the minimum bid price requirement, extending the deadline to 1 April 2023. This extension follows the initial notification on 7 April 2022 regarding non-compliance. VEON will transfer its listing to Nasdaq Capital Markets and has committed to undertake necessary corporate actions to meet compliance standards during this new period. Group CEO Kaan Terzioglu stated that this extension is beneficial for all stakeholders.

VEON Ltd. announced on September 26, 2022, the launch of next-generation 4G networks nationwide through its subsidiary Banglalink in Bangladesh. This initiative aims to enhance digital connectivity, expecting to double internet speeds and boost the economic development of Bangladesh, where 92.8% of internet users rely on 4G. The rollout involves deploying 3,000 new base stations and utilizes the 2.3 GHz spectrum. This advancement positions Banglalink as a leader in providing high-quality digital services in the country, facilitating better access to health, education, and entertainment.

VEON Ltd. has announced a share award for Group CEO Kaan Terzioğlu, comprising 5,231,771 shares to be issued on 1 October 2022. Out of these, 1,569,531 shares will vest on the grant date, while the remaining 3,662,240 shares will vest on 1 September 2023. Currently, Terzioğlu holds 1,674,900 shares. This award recognizes Terzioğlu's leadership during challenging times and aligns his interests with those of shareholders. The press release includes a disclaimer about forward-looking statements regarding VEON's strategic plans.

VEON Ltd. reported a positive trading update for the first eight months of 2022, showing a 3.1% increase in consolidated revenue year-on-year in reported currency, and 6.5% in local currency. Service revenue grew 4.3% YoY, while EBITDA rose 3.9% YoY. The company generated cash of USD 682 million from its stake in Algerian operator Djezzy, with total cash and deposits reaching approximately USD 3.2 billion. Notably, 4G penetration increased by 16.5%, contributing to operational momentum.

Amsterdam, 15th September 2022: VEON Ltd. (NASDAQ: VEON) has announced three new initiatives from its subsidiary, Mobilink Microfinance Bank, aimed at empowering women entrepreneurs and supporting farmers in Pakistan. These initiatives include low-cost 4G handsets integrated with a digital banking application, e-commerce services for female business owners, and agricultural advisory services targeting farmers. With only 7% of women financially included in Pakistan, this initiative aims to enhance digital participation and economic growth in the country.

VEON Ltd. announces that its Bangladeshi subsidiary, Banglalink, has won the Ookla Speedtest Award for the fastest mobile network in Bangladesh for the third consecutive year. With a Speed Score of 21.56, Banglalink has solidified its position as the top provider of high-speed internet in the country.

Recent expansions include over 3000 sites deployed and a doubled spectrum holding through the acquisition of 40 MHz spectrum. Additionally, Banglalink recorded double-digit revenue growth in Q2 2022, reflecting VEON's commitment to enhancing digital services.