Kyivstar prepares for indirect IPO

Veon, the parent company of the Kyivstar operator, announced the signing of a letter of intent with US investment firm Cohen Circle to conduct an indirect IPO on the Nasdaq stock exchange. 

This process does not involve a standard initial public offering of the company's shares on the exchange, but rather an indirect listing that will allow Kyivstar to become part of a larger transaction.

An indirect IPO is a specific procedure in which a company's shares are not listed directly on the exchange, but are instead listed through transactions involving other financial instruments or corporate mergers. 

Consequently, the company gains access to public markets without undergoing the standard initial public offering procedure, which can be a more advantageous and faster route to achieving public listing status.