VEON Ltd. transferred its American Depositary Shares to the Nasdaq Global Select Market effective December 18 2025, moving from the Nasdaq Capital Market tier. The upgrade demonstrates that VEON now meets Nasdaq’s higher financial and liquidity thresholds, including minimum market‑cap, revenue, and bid‑price requirements, and places the company on the exchange’s highest listing tier.
The transition aligns with recent index additions, including the S&P Global Broad Market Index and the MSCI Ukraine Index, broadening visibility for passive investors and index funds that track these benchmarks.
VEON’s Q3 2025 results underpin the upgrade: revenue rose 7.5 % year‑over‑year to $1,115 million, EBITDA grew 19.7 % to $524 million, and the EBITDA margin expanded to 47.0 %. These gains reflect operational leverage and disciplined cost management, satisfying Nasdaq’s liquidity and profitability criteria and supporting the company’s strategic focus on digital services.
CEO Kaan Terzioglu said the listing transition reflects VEON’s growing scale and financial discipline, reinforcing the company’s strategy to expand digital services while maintaining a robust balance sheet. The upgrade also supports ongoing initiatives such as Kyivstar’s renewable‑energy investments and a partnership with Starlink to enhance satellite connectivity.
The move positions VEON to attract a broader range of institutional investors and enhances its ability to be included in additional benchmark indices, potentially increasing demand from passive investors. The company remains focused on strengthening its balance sheet, with a debt‑to‑equity ratio of 3.51 and a current ratio of 0.95, while pursuing growth in high‑margin digital services.
Overall, the listing upgrade marks a milestone in VEON’s evolution from a regional telecom operator to a global digital platform, underscoring its financial resilience and strategic focus on high‑growth markets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.