Kyivstar Inks Deal for Ukrainians to Trade Its Nasdaq-Listed Shares Locally
Kyivstar Signs Agreement to Enable Local Trading of Nasdaq Shares
By Leo Marchandon and Gianluca Lo Nostro
Agreement Details and Objectives
GDANSK, June 26 (Reuters) - Kyivstar said on Friday it signed an agreement with Ukraine's securities regulator to explore giving domestic investors access to its Nasdaq-listed shares through local brokers, marking a first step toward opening trading in the stock inside Ukraine.
Workaround for Wartime Financial Controls
The deal would offer a rare workaround for wartime financial controls that have made it difficult for Ukrainians to trade foreign-domiciled assets.
Memorandum of Understanding and Trading Structure
The memorandum of understanding with the National Securities and Stock Market Commission was signed at the Ukraine Recovery Conference in Gdansk. Chief Executive Oleksandr Komarov told Reuters the plan was not a dual listing but a structure that would let a limited number of existing shares trade in Ukraine through a designated broker.
CEO's Statement on Investment Opportunities
"We want to allow Ukrainians to invest in Kyivstar shares listed on Nasdaq," Komarov told Reuters.
Background and Future Prospects
Kyivstar's Nasdaq Listing
Kyivstar, Ukraine's largest mobile operator and a unit of Dubai-based VEON, became the first Ukrainian company to list on a U.S. exchange last year.
Potential for Full Local Listing
Komarov said a full local listing could be considered only after the war.
"We want to open this up as a first step," he said. "Maybe after the war, somewhere in the future, we might consider a proper local listing."
(Reporting by Leo Marchandon and Gianluca Lo Nostro in Gdansk)
