VEON Ltd. announced on December 9, 2024, that its Board of Directors has approved the commencement of the first phase of its previously announced share buyback program. This initial phase will involve repurchasing up to USD 30 million of the company’s American Depositary Shares (ADSs).
This USD 30 million phase is part of VEON’s larger plan to execute a share buyback program of up to USD 100 million. The company believes its ADSs are undervalued relative to its operational performance and strategic potential.
Group CEO Kaan Terzioglu stated that the decision reflects confidence in VEON’s growth trajectory and its commitment to delivering long-term shareholder value through a disciplined approach to capital allocation. The buybacks will be conducted on the open market pursuant to a 10b5-1 plan.
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