VEON Receives License for its Branch Office in Dubai International Financial Centre
Rhea-AI Summary
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has received a commercial license for its branch office in Dubai International Finance Centre (DIFC). This development aligns with VEON's previously announced plans to relocate its headquarters from Amsterdam to DIFC. Upon completion of the transition, VEON will become the largest Nasdaq-listed company headquartered in Dubai. The company operates as a global digital operator serving nearly 160 million connectivity customers and over 100 million monthly active digital service users across Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan.
Positive
- Successful acquisition of DIFC commercial license, enabling headquarters relocation
- Set to become the largest Nasdaq-listed company headquartered in Dubai
- Strong market presence with 160 million connectivity customers
- Digital services reach of over 100 million monthly active users
Negative
- None.
News Market Reaction – VEON
In the trading session that priced this news, VEON declined 2.39%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Amsterdam and Dubai, 15 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, ("VEON" or the "Group"), announces that it has completed the registration of and received the commercial license for its branch office in Dubai International Finance Centre (“DIFC”).
“We are pleased to receive the necessary licenses from Dubai authorities for our branch office. These approvals enable us to upgrade our presence in Dubai in line with our plans to move VEON’s headquarters to the DIFC. We are excited to explore the potential that this transition will bring, both in terms of the proximity to our markets and visibility to Gulf investors,” said Kaan Terzioglu, Group CEO of VEON.
VEON had previously announced its plan to move the Group’s headquarters from Amsterdam to DIFC. Once the transition is completed, VEON will become the largest Nasdaq-listed company with its Group headquarters in Dubai.
VEON is a global digital operator that provides converged connectivity and digital services to nearly 160 million connectivity customers and more than 100 million monthly active users of digital services. Operating in Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan – six countries that are home to more than
VEON has been listed on Nasdaq Stock Exchange since 2013 and provides global investors with the opportunity to participate in the growth of the frontier markets where the Group operates.
Disclaimer
This release contains "forward-looking statements," as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communications & Strategy
pr@veon.com
