Published by Global Banking and Finance Review
Posted on March 20, 2025
By Gianluca Lo Nostro
(Reuters) -VEON is confident about Kyivstar's growth prospects on Wall Street despite tumult caused by President Donald Trump's chaotic trade policy, its CEO said on Thursday ahead of the planned New York listing of Ukraine's biggest telecoms company.
Investors will look into opportunities where there is still growth in the "distressed" U.S. stock markets, CEO Kaan Terzioglu told Reuters after VEON's annual results publication.
"We represent one of those unique opportunities. Ukraine is the only investable asset," he added.
VEON, which owns telecoms and fintech brands in six countries, on Tuesday confirmed it was moving forward with the U.S. initial public offering for Kyivstar, a first for a Ukrainian company.
The confirmation came at a time when ties between Ukraine and the United States have been strained following a clash between presidents Volodymyr Zelenskiy and Trump in the White House last month.
The two spoke again on Wednesday in what the White House described as a "fantastic" one-hour phone call, pledging to work together to end Russia's war with Ukraine.
"The trend line of American stock markets, I think is self-telling the story of how successful it has been," Terzioglu said, adding his confidence in U.S. growth was not changing with daily headlines.
He also said the only way to rebuild war-torn Ukraine was with international investors coming in, and a possible ceasefire would boost investor confidence to do that.
On Tuesday, Russian President Vladimir Putin agreed to a temporary halt on assaults on Ukrainian energy facilities but declined to endorse a full ceasefire that Trump had hoped would lead to a lasting peace agreement.
Asked if the Kyivstar IPO had come up in conversations with the Ukrainian and U.S. governments, Terzioglu said he could not confirm or deny it.
"I was recently in Ukraine visiting the country, speaking to our people, talking to lots of different government executives as well, I have not seen any negative remarks," he said.
Earlier on Thursday, VEON reported an annual revenue growth of 14.6% despite a $68 million charge from a Russian cyberattack in Ukraine and political unrest in Bangladesh in 2024.
(Reporting by Gianluca Lo Nostro in Gdansk; editing by Milla Nissi)
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