Kyivstar completes $151 million secondary offering at $10.50 per share

Kyivstar Group Ltd. (NASDAQ: KYIV) completed a secondary public offering of 14.375 million common shares at $10.50 per share, the Ukrainian digital operator announced. The offering closed on February 2, 2026, and was oversubscribed by five times.

The offering included shares held by VEON Amsterdam B.V., the company's principal shareholder, and 400,000 shares from other selling shareholders. Underwriters exercised their option to purchase an additional 1.875 million shares.

Following the transaction, VEON's ownership in Kyivstar decreased to 83.6% from a previously higher stake. The offering was conducted through a registration statement filed with the Securities and Exchange Commission on January 28, 2026, and declared effective on January 29, 2026.

"This successful offering demonstrates once again that there is investor demand for innovative, well-run Ukrainian companies like Kyivstar already today," said Kyivstar Group President Oleksandr Komarov.

Morgan Stanley, Barclays, Cantor and Rothschild & Co. served as joint book-running managers and representatives of the underwriters. Benchmark, a StoneX Company, and Northland Capital Markets acted as co-managers.

Kyivstar operates as Ukraine's digital operator through its subsidiary JSC Kyivstar, providing mobile and fixed-line services, ride-hailing, e-health, digital TV, and enterprise solutions. The company became the first Ukrainian company to list on a U.S. stock exchange.

The company and VEON have committed to investing $1 billion in Ukraine between 2023-2027 through infrastructure investments, technological development, strategic acquisitions, and charitable donations for social projects.

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