Kyivstar, Ukraine’s largest telecoms operator, marked its debut on the US stock market last week by ringing the opening bell at Nasdaq, becoming the first Ukrainian company to be listed on an American exchange.
The ceremony at Nasdaq’s MarketSite in Times Square brought together Kyivstar chief executive Oleksandr Komarov, members of the company’s board, and senior Ukrainian officials including Prime Minister Yulia Svyrydenko, presidential chief of staff Andriy Yermak, and economy minister Oleksiy Soboliev. Executives from Kyivstar’s parent company VEON, investors, and guests also attended.
At the Opening Bell ceremony and throughout the symposium, participants observed a minute of silence in honor of the fallen Ukrainian heroes and victims of Russian war against Ukraine.
Kyivstar’s shares and warrants began trading on August 15 under the tickers KYIV and KYIVW, following its merger with the US-listed blank check company Cohen Circle Acquisition Corp I. The deal left Kyivstar as the only Ukrainian business currently traded on US markets.
Since its listing, Kyivstar’s market capitalization has risen to approximately $2.8 billion, reflecting a roughly 20% increase, or $600–700 million, from the time of the SPAC deal with Cohen Circle. The company’s CEO Oleksandr Komarov noted that this represents a significant undervaluation of the business.
“In my strong view, this is a major underestimation of our business, for two key reasons. First, the company’s value was assessed in a country at war, and the war will end. Second, we are often seen just as a telecom operator, whereas Kyivstar is actually a digital services operator with a telecom license,” Komarov told journalists.
He also noted that VEON, Kyivstar’s parent company, currently has a market capitalization of about $4.2 billion.
“For Kyivstar, it is a great honor to be an example of how Ukrainian business combines resilience with growth and innovation,” Komarov added. “Our listing on Nasdaq demonstrates that private-sector innovation can accelerate the country’s recovery. Meetings in New York reaffirmed investor confidence in our performance and recognized the significant potential for future investment. We will continue to expand our digital services to contribute to Ukraine’s development.”
Kyivstar serves more than 22.4 million mobile subscribers and 1.1 million fixed-line customers across Ukraine.
Previously, it was reported that Ukraine has become the first country in the world to launch an AI assistant for government services.
Read More: Kyivstar Debuts on Nasdaq as First Ukrainian Company Listed on US Stock
