Welcome to our dedicated page for Veon news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on Veon stock.
VEON Ltd (VEON) delivers mobile connectivity, digital services, and fixed-line solutions across emerging markets through brands like Beeline and Kyivstar. This page aggregates all official announcements and third-party coverage related to the company’s operations, financial performance, and strategic initiatives.
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Key coverage areas include quarterly financial results, partnership announcements, leadership updates, network expansion projects, and digital service launches. All content undergoes strict sourcing verification to ensure compliance with financial disclosure standards.
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VEON Ltd. has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report, which includes comprehensive audited financial statements, is accessible on the company's Investor Relations page. Shareholders can request a hard copy at no cost by contacting VEON's Investor Relations Department.
VEON is a global provider of connectivity and digital services, listed on NASDAQ and Euronext Amsterdam.
VEON Ltd. revealed its trading update for Q1 2022, reporting revenues of USD 1,823 million, up 9.8% YoY in local currency, while EBITDA reached USD 775 million, reflecting a 5.7% increase. Capex was USD 367 million (-6.2% YoY) with a capex intensity of 23.2%. The company maintained a strong cash position of USD 1.9 billion and a net debt/EBITDA ratio of 2.4x. Despite challenges, Ukraine and Kazakhstan showed notable revenue growth, whereas Russia's revenue declined in reported currency. Overall, VEON reported a healthy 3.9% growth in its subscriber base, reaching 206 million mobile subscribers.
VEON Ltd. has announced a realignment of its capital structure on April 21, 2022. Two loans totaling RUB 90 billion were novated to PJSC VimpelCom, releasing VEON Finance Ireland and VEON Holdings BV as borrowers and guarantors. This restructuring aligns the company's ruble liabilities with ruble revenues and reduces HQ external debt now composed of USD 4.0 billion in dollar bonds and RUB 50 billion in ruble bonds, with no significant debt maturities reported for 2022. The move aims to stabilize the company's financial standing amidst changing market conditions.
VEON Ltd. (NASDAQ: VEON) confirmed on April 7, 2022, that it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of USD 1.00 per share. This notification has no immediate impact on the listing status of its American Depositary Shares (ADSs). VEON has a 180-day grace period until October 4, 2022, to regain compliance. If the share price remains below the threshold, VEON may be eligible for an additional 180-day period. The company’s operations and its listing on Euronext Amsterdam remain unaffected.
VEON Ltd. has announced that its subsidiary, Banglalink, has acquired new spectrum in Bangladesh, doubling its holdings to 40 MHz from the 2300 MHz band. This acquisition, confirmed at a recent auction conducted by the BTRC, ensures Banglalink remains the top private operator in terms of spectrum per customer. With this enhancement, nearly 38 million customers will gain improved access to digital services. The company also plans to build 3,000 new towers to strengthen its 4G network. VEON is focused on growth in fast-developing markets like Bangladesh, home to a significant youth demographic.
VEON Ltd (NASDAQ: VEON) has launched Health Hub through its Banglalink mobile operator in Bangladesh, marking the country's first integrated digital health platform. This service offers affordable healthcare solutions, including doctor appointments, video consultations, and medicine delivery, accessible via subscription packages. Banglalink aims to democratize healthcare in Bangladesh, facilitating easier access to essential services. The initiative aligns with VEON's Digital Operator strategy, which also features successful services like Toffee and JazzCash.
VEON Ltd. (NASDAQ: VEON) announces key details regarding its ruble denominated notes. The company confirms that there are no additional debt maturities at the HQ level for 2022. The notes include:
- RUB 20 billion (approx. USD 194 million) at 6.30%, maturing June 2025;
- RUB 10 billion (approx. USD 97 million) at 6.50%, maturing September 2025;
- RUB 20 billion (approx. USD 194 million) at 8.125%, maturing September 2026.
VEON, an international telecommunications company, emphasizes its commitment to employee safety and connectivity services amidst the humanitarian crisis in Ukraine. With operations in nine countries, VEON serves nearly 220 million customers, a third of whom are in Ukraine and Russia. The company has over 33,000 employees in these regions. The Board of Directors calls for a peaceful resolution to the conflict and is actively communicating with stakeholders regarding the situation.
VEON Ltd. announced the appointment of Michiel Soeting as a non-executive director and Chairman of the Audit & Risk Committee, effective March 16, 2022. Soeting, a former global lead partner at KPMG, brings over 30 years of extensive financial expertise and a strong governance background. His appointment fills the vacancy left by Robert Jan van de Kraats. VEON operates in nine countries, serving nearly 220 million customers and has a diverse investor base with no controlling shareholder and a majority of independent directors.
VEON Ltd. offers a business update amid market volatility, highlighting a strong liquidity profile with USD 2.1 billion in cash and deposits. The company has repaid USD 417 million in maturing bonds and cleared a RUB 30 billion loan. VEON assures stakeholders of its confident legal position as it faces no sanctions from the EU, US, or UK. The CEO emphasizes the company's commitment to protecting its employees and engaging with stakeholders, while the Digital Operator strategy aims to leverage growth opportunities.
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