Kyivstar Completes Successful Secondary Offering of 14.375 Million Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 03 2026
0mins
Should l Buy KYIV?
Source: Newsfilter
- Offering Size and Pricing: Kyivstar successfully completed a secondary offering of 14.375 million shares at a price of $10.50 per share, raising approximately $139.8 million, which reflects strong market demand for Ukrainian digital operators.
- Oversubscription Details: The offering was oversubscribed by five times, indicating robust confidence from international investors in Kyivstar's growth potential, thereby expanding its investor base significantly.
- VEON Ownership Adjustment: Following the offering, VEON's ownership in Kyivstar decreased to 83.6%, resulting in net proceeds of $139.8 million for VEON, which plans to utilize these funds for general corporate purposes, enhancing its financial flexibility.
- Future Investment Commitment: Kyivstar and VEON aim to invest $1 billion in Ukraine from 2023 to 2027, focusing on infrastructure and technological development to drive local economic recovery, demonstrating a long-term commitment to the Ukrainian market.
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Analyst Views on KYIV
Wall Street analysts forecast KYIV stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 12.640
Low
17.00
Averages
17.75
High
20.00
Current: 12.640
Low
17.00
Averages
17.75
High
20.00
About KYIV
Kyivstar Group Ltd is a United Arab Emirates based telecommunications Company. The Company and its subsidiaries provide services across mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, and digital TV. Cohen Circle Acquisition Corp I is a subsidiary of the Company, and its parent is VEON Amsterdam BV.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Oversubscription Details: The offering was oversubscribed by five times, indicating robust confidence from international investors in Kyivstar's growth potential, thereby expanding its investor base significantly.
- VEON Ownership Adjustment: Following the offering, VEON's ownership in Kyivstar decreased to 83.6%, resulting in net proceeds of $139.8 million for VEON, which plans to utilize these funds for general corporate purposes, enhancing its financial flexibility.
- Future Investment Commitment: Kyivstar and VEON aim to invest $1 billion in Ukraine from 2023 to 2027, focusing on infrastructure and technological development to drive local economic recovery, demonstrating a long-term commitment to the Ukrainian market.
See More
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- Shareholder Structure Change: Following the offering, VEON's ownership in Kyivstar decreased to 83.6%, which not only optimizes the shareholder structure but also provides flexibility for future capital operations, potentially attracting more investor interest.
- Underwriter Performance: Morgan Stanley, Barclays, Cantor, and Rothschild acted as joint underwriters, successfully facilitating the offering, showcasing their strong influence and expertise in the capital markets.
- Future Investment Plans: Kyivstar and VEON plan to invest $1 billion in Ukraine from 2023 to 2027, focusing on infrastructure, technological development, and strategic acquisitions, indicating the company's long-term commitment and growth potential in the Ukrainian market.
See More
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- Underwriter Option: The underwriters have a 30-day option to purchase an additional 1.875 million shares, enhancing market liquidity and providing flexibility for future financing opportunities.
- Closing Timeline: The offering is expected to close on February 2, 2026, marking a significant step for Kyivstar in the capital markets that could provide essential funding for future growth initiatives.
- Investment Opportunities: Kyivstar's 90% gross profit margin in the Ukrainian telecom sector and its investment in a Ukrainian solar power company indicate a strategic focus on sustainable and high-margin business areas, strengthening its competitive position in the market.
See More
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- Underwriter Option: Selling shareholders granted underwriters a 30-day option to purchase an additional 1.875 million shares, enhancing liquidity and potentially boosting investor confidence in Kyivstar's stock.
- Underwriter Lineup: Morgan Stanley, Barclays, Cantor, and Rothschild are acting as joint book-running managers, reflecting strong market recognition and enhancing Kyivstar's credibility in the capital markets.
- Future Investment Plans: Kyivstar and VEON plan to invest $1 billion in Ukraine from 2023 to 2027, aiming to drive long-term growth through infrastructure and technological development, demonstrating commitment to the Ukrainian market.
See More
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- Acquisition Completed: VEON's subsidiary Kyivstar has completed the acquisition of the Ukrainian digital platform Tabletki.ua for $160 million, paid in Ukrainian hryvnia, further solidifying Kyivstar's market position in the digital healthcare sector.
- Significant Platform Impact: Tabletki.ua facilitates an average of 14 million medicine reservations per month, with a gross merchandise value of UAH 45 billion (approximately $1.06 billion) in FY2024, highlighting its critical role and user trust in accessing medications in Ukraine.
- Strong Financial Performance: As of September 30, 2025, Tabletki.ua reported LTM EBITDA of $24 million and net profit of $20 million, with the acquisition price reflecting a price to LTM earnings ratio of 8.0X, indicating sound financial rationale for the deal.
- Strategic Development Outlook: This acquisition integrates Tabletki.ua into Kyivstar's digital service portfolio, expected to accelerate the development of innovative healthcare services, enhancing accessibility for Ukrainians, aligning with VEON's long-term strategy to invest $1 billion in Ukraine.
See More
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- Technology Expansion: This partnership positions MasOrange as the first European telco to offer direct-to-device satellite connectivity after Ukraine's Kyivstar, further advancing Starlink's technology deployment in the region.
- Market Potential: Starlink's direct-to-cell technology is expected to enhance internet connectivity for users in remote areas, addressing the growing demand for high-quality internet services and presenting significant market expansion opportunities.
- Future Outlook: As Starlink expands in the EU, it is anticipated to attract more telecom companies, promoting the proliferation of satellite internet services and enhancing overall industry competitiveness.
See More
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- Offering Size and Pricing: Kyivstar successfully completed a secondary offering of 14.375 million shares at a price of $10.50 per share, raising approximately $139.8 million, which reflects strong market demand for Ukrainian digital operators.
- Oversubscription Details: The offering was oversubscribed by five times, indicating robust confidence from international investors in Kyivstar's growth potential, thereby expanding its investor base significantly.
- VEON Ownership Adjustment: Following the offering, VEON's ownership in Kyivstar decreased to 83.6%, resulting in net proceeds of $139.8 million for VEON, which plans to utilize these funds for general corporate purposes, enhancing its financial flexibility.
- Future Investment Commitment: Kyivstar and VEON aim to invest $1 billion in Ukraine from 2023 to 2027, focusing on infrastructure and technological development to drive local economic recovery, demonstrating a long-term commitment to the Ukrainian market.
See More
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- Offering Size: Kyivstar Group successfully closed a secondary offering of 14.375 million shares at a price of $10.50 per share, demonstrating strong investor demand for innovative Ukrainian companies, with the offering being oversubscribed by five times, reflecting market confidence in the company.
- Shareholder Structure Change: Following the offering, VEON's ownership in Kyivstar decreased to 83.6%, which not only optimizes the shareholder structure but also provides flexibility for future capital operations, potentially attracting more investor interest.
- Underwriter Performance: Morgan Stanley, Barclays, Cantor, and Rothschild acted as joint underwriters, successfully facilitating the offering, showcasing their strong influence and expertise in the capital markets.
- Future Investment Plans: Kyivstar and VEON plan to invest $1 billion in Ukraine from 2023 to 2027, focusing on infrastructure, technological development, and strategic acquisitions, indicating the company's long-term commitment and growth potential in the Ukrainian market.
See More
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- Public Offering Pricing: Kyivstar Group, through VEON Amsterdam B.V. and other selling shareholders, priced a public offering of 12.5 million shares at $10.50 each, reflecting market confidence and strong investor interest in the company.
- Underwriter Option: The underwriters have a 30-day option to purchase an additional 1.875 million shares, enhancing market liquidity and providing flexibility for future financing opportunities.
- Closing Timeline: The offering is expected to close on February 2, 2026, marking a significant step for Kyivstar in the capital markets that could provide essential funding for future growth initiatives.
- Investment Opportunities: Kyivstar's 90% gross profit margin in the Ukrainian telecom sector and its investment in a Ukrainian solar power company indicate a strategic focus on sustainable and high-margin business areas, strengthening its competitive position in the market.
See More
Kyivstar Group Announces Pricing of 12.5 Million Share Public Offering
- Public Offering Pricing: Kyivstar Group announced a public offering of 12.5 million common shares at a price of $10.50 per share, indicating stable market demand and expected capital inflow to support future growth.
- Underwriter Option: Selling shareholders granted underwriters a 30-day option to purchase an additional 1.875 million shares, enhancing liquidity and potentially boosting investor confidence in Kyivstar's stock.
- Underwriter Lineup: Morgan Stanley, Barclays, Cantor, and Rothschild are acting as joint book-running managers, reflecting strong market recognition and enhancing Kyivstar's credibility in the capital markets.
- Future Investment Plans: Kyivstar and VEON plan to invest $1 billion in Ukraine from 2023 to 2027, aiming to drive long-term growth through infrastructure and technological development, demonstrating commitment to the Ukrainian market.
See More
