VEON’s Rising Capital Markets Profile Strengthened by Inclusion in Key Global Indices
Rhea-AI Summary
VEON (Nasdaq: VEON) announced inclusion in two major global equity indices, strengthening investor visibility and institutional access. VEON was added to the S&P Global Broad Market Index (BMI) after the September 2025 rebalance and was selected for the MSCI Ukraine Index in November 2025. The company tied these additions to strong operational performance, resilient exposure to the Ukrainian economy through Kyivstar, and recent strategic developments including Kyivstar’s successful Nasdaq listing.
The company said the index inclusions broaden its reach to global institutional investors and support its transformation into a digital operator while it continues to engage with index providers, analysts, rating agencies, and exchanges to improve investor understanding.
Positive
- Added to S&P Global BMI after the September 2025 rebalance
- Included in MSCI Ukraine Index in November 2025
- Kyivstar successful Nasdaq listing cited as a strategic catalyst
- Broader institutional access and increased investor visibility
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
VEON’s price was nearly flat (-0.02%) while key telecom peers like LBTYA (-3.04%) and LBTYK (-3.25%) traded lower, suggesting more stock-specific dynamics than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Data center project | Positive | +0.2% | Announcement of Tier III Hyper Cloud data center in Kazakhstan. |
| Dec 01 | AI partnership | Positive | -2.6% | Kyivstar and Ukraine ministry select Google Gemma for national LLM. |
| Nov 25 | AI services expansion | Positive | +2.7% | QazCode–MeetKai agreement to develop national LLMs across VEON markets. |
| Nov 25 | AI cooperation deal | Positive | +2.7% | QazCode partnership with MeetKai to power AI digital products groupwide. |
| Nov 24 | Satellite connectivity | Positive | -1.0% | Launch of Starlink Direct to Cell SMS service for Kyivstar subscribers. |
Recent strategically positive announcements have produced mixed price reactions, with both gains and declines following upbeat AI and connectivity news.
Over the past weeks, VEON reported several strategic initiatives across its markets. These include a planned Tier III Hyper Cloud data center in Kazakhstan (news on Dec 8, 2025), Kyivstar’s launch of Starlink Direct to Cell in Ukraine (Nov 24, 2025), and multiple AI-focused partnerships via QazCode and Kyivstar in late November. Price reactions ranged from about -2.62% to +2.67%, indicating that even positive, innovation-led updates have elicited varied market responses before today’s index inclusion news.
Market Pulse Summary
This announcement highlights VEON’s inclusion in the S&P Global BMI, covering more than 11,000 companies, and the MSCI Ukraine Index, enhancing visibility to global institutional investors. It follows a string of AI, cloud, and connectivity initiatives across Kazakhstan and Ukraine. Investors may track how index membership interacts with previously disclosed financials and corporate actions, as well as progress on Kyivstar’s listing and VEON’s broader digital operator strategy.
AI-generated analysis. Not financial advice.
Dubai, December 10, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or “the Company”), today announced its inclusion in two major international equity indices, further strengthening the Company’s visibility and accessibility to global institutional investors.
VEON has been added to the S&P Global Broad Market Index (BMI) following the September 2025 rebalance by S&P Dow Jones Indices. The S&P Global BMI serves as a core reference benchmark for institutional portfolio allocation, covering more than 11,000 companies across developed and emerging markets.
In November 2025, VEON was also selected for inclusion in the newly revised MSCI Ukraine Index, which forms part of MSCI’s global equity index framework. This inclusion underscores VEON’s and Kyivstar’s roles as leading publicly listed companies with exposure to the Ukrainian economy, highlighting the Company’s strong operational performance and resilience in the market.
“Our inclusion in these key global indices is a testament to VEON’s growing scale, operational momentum, and strengthened financial profile. It broadens our reach to a deeper pool of institutional investors and underscores confidence in our strategy as we continue transforming into a digital operator across high-growth markets,” said VEON Group CEO Kaan Terzioglu.
The enhanced investor visibility comes as VEON continues to deliver robust revenue and profit growth, improve operational efficiency, and accelerate its digital operator strategy. Market interest has been further catalyzed by strategic developments including the successful listing of its Kyivstar subsidiary on Nasdaq and initiatives to optimize shareholder value
VEON will continue to actively engage with market participants, including index providers, institutional investors, equity and credit analysts, rating agencies, and global exchanges in order to ensure transparent communication of its strategy and performance.
The company remains committed to maintaining high-quality disclosures, deepening investor understanding of its digital operator model, and supporting an efficient, well-informed market for VEON securities.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to more than
Forward-Looking Statements Disclaimer
This release contains “forward-looking statements”, within the meaning of the 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. Such forward-looking statements include, but are not limited to, statements relating to VEON’s inclusion in international indices. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to uncertainty over VEON’s inclusion in international indices, among others discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.
Contact Information
VEON
Hande Asik
Chief Communications and Strategy Officer
pr@veon.com
FAQ
What does VEON's inclusion in the S&P Global BMI mean for VEON (VEON) shareholders?
When was VEON added to the S&P Global Broad Market Index (VEON)?
What is the significance of VEON being selected for the MSCI Ukraine Index (VEON)?
How does Kyivstar’s Nasdaq listing affect VEON (VEON) investor interest?
Will VEON engage with investors after these index inclusions (VEON)?
