reports
- Chris Hoare
- Chris Hoare
VEON to List Kyivstar on Nasdaq in New York, Signs Letter of Intent wi...
VEON to List Kyivstar on Nasdaq in New York, Signs Letter of Intent with Cohen Circle Kyiv, New York, Dubai and Philadelphia, 13 January 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or, together with its subsidiaries, the “Group”), and Cohen Circle Acquisition Corp. I (“Cohen Circle”), a special purpose acquisition company (Nasdaq: CCIRU), today announced the signing of a letter of intent (“LOI”) to enter into a business combination with the aim of indirectly listing Kyivstar, VEON’s digital operator in Ukraine, on the Nasdaq Stock Market LLC (“Nasdaq”) in the United S...
- Felix Fischer
Asia Monthly - 2025 Asian Credit Outlook And 2024 In Review - Lucror A...
In our inaugural Asia Monthly for 2025, we share our regional credit outlook for the year, with a focus on China, Macau, India and Indonesia. We also provide a review of 2024, in which we discuss the performance of major Asian credit indices and review UST curve movements for the year. In addition, we provide a recap of major news and macroeconomic releases in December 2024, summarise the Top/Bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well a...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
LPKR YANLORD LAND GROUP LIMITED
SXC PT LIPPO KARAWACI TBK
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
KIJA ENN ECOLOGICAL HOLDINGS (A)
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
5AO ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
PWON ANTON OILFIELD SERVICES GROUP
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
MSC HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
VEON appoints Burak Ozer as Group Chief Financial Officer
VEON appoints Burak Ozer as Group Chief Financial Officer Dubai, 9 January 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Group”), today announces the appointment of Burak Ozer as Group Chief Financial Officer (Group CFO), effective 9 January 2025. Burak will succeed Joop Brakenhoff, who will continue to serve VEON as an Advisor to the Group CEO. Burak brings over 27 years of extensive international experience within the finance sector. Burak started his career with Xerox where he held a number of key financial positions in the USA and the UK in addition to servi...
- Chris Hoare
African & EMEA Telcos & Towers Outlook 2025; Catching back what was l...
The last 2 years have been tough for African Telcos, with strong macro headwinds driving currency weakness and cost pressures. However, we exited 2024 with some signs that trends are inflecting. AAF remains our top pick in Africa as it offers Bharti-style execution at a fraction of the multiple, and VEON our top pick overall.
- Chris Hoare
Global EM Telcos & Towers Themes and Top picks for 2025
We remain constructive on EM Telcos despite the major stocks generally performing well through 2023 and 2024. As the long telco cycle inflects, and the industry consolidates, conditions still seem ripe for GDP+ revenue growth and rising ROIC we think. In this note, we run through the themes we think investors should follow in 2025. In a separate note, also published today we introduce the NSR EM Telco – Top 8, our top EM picks in the Telco and Towers space.
- Chris Hoare
Global EM Telcos & Towers Introducing the NSR Global EM Telco & Tower...
This note introduces the NSR GEM-Top 8, which will be a regularly updated list of our preferred Telcos and Towers in Global Emerging Markets. In a separate note out today, we run through the key themes that we see driving the EM Telco and Towers sector in 2025
In a Groundbreaking Agreement, VEON and Starlink to Bring Starlink Dir...
In a Groundbreaking Agreement, VEON and Starlink to Bring Starlink Direct-to-Cell Satellite Connectivity to Kyivstar Customers Dubai and Kyiv, 30 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or “VEON Group”), today announces that Kyivstar, its digital operator in Ukraine, has signed an agreement with Starlink, a division of SpaceX, to introduce groundbreaking direct-to-cell satellite connectivity in Ukraine. Upon its launch, the service will make Ukraine one of the first countries to have the game-changing Starlink direct-to-cell service, enhancing the resili...
VEON Completes the Move of its Headquarters to Dubai
VEON Completes the Move of its Headquarters to Dubai Dubai, 19 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Group”), today announces that it has completed the move of its Group headquarters from Amsterdam to Dubai, United Arab Emirates. This announcement follows the approvals in the meetings of the VEON Board of Directors in Amsterdam on 12 December 2024 and in Dubai on 19 December 2024 to move the place of effective management of VEON Ltd. to the Dubai International Financial Centre (DIFC). These approvals, coupled with the headquarter activities tha...
VEON discloses its unaudited interim condensed consolidated financial ...
VEON discloses its unaudited interim condensed consolidated financial statements for 3Q and 9M 2024 Dubai and Amsterdam, 13 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), following the release of its 3Q24 trading update on 14 November 2024, today discloses its unaudited interim condensed consolidated financial statements for the three-month and nine-month periods ended 30 September 2024 for VEON Ltd. The Financial Statements are available on the VEON Group website at . About VEONVEON is a Nasdaq-listed digital operator that provides converged connectivity and...
Kyivstar and Jazz Secure Double Win for VEON at The World Communicati...
Kyivstar and Jazz Secure Double Win for VEON at The World Communication Awards 2024 London, 12 December 2024 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that it won in two categories at the World Communication Awards 2024. Kyivstar, VEON’s digital operator in Ukraine, received the Crisis Response Award, while Jazz, the Company’s operator in Pakistan, received the Best Operator in a Growth Market Award. Both companies and VEON were commended for their positive impact and dedication to the markets in which they operate, during the awards ceremo...
Kazakh Language Gets its National LLM with a Groundbreaking Partnershi...
Kazakh Language Gets its National LLM with a Groundbreaking Partnership of Kazakh Research Institutions and VEON’s QazCode Dubai, Amsterdam and Astana, 11 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator, is pleased to note the launch of an open-source Kazakh-language large language model (Kaz-LLM), developed by a consortium coordinated by the Ministry of Digital, Innovations, and Aerospace Industry of the Republic of Kazakhstan. The development of Kaz-LLM was led by the Institute of Smart Systems and Artificial Intelligence at the Nazarbayev University (ISSAI NU) of Kazak...
- Chris Hoare
Rakuten (Reduce, ¥400, -57%) What might the impact of Rakuten’s share...
Rakuten’s stock rallied sharply yesterday on its announcement that shareholders would receive 1 year of free mobile service. In this short note we attempt to calculate the impact both on the Mobile business and the share price.
- Chris Hoare
VEON Approves Launch of the Initial USD 30 Million Phase of its Share ...
VEON Approves Launch of the Initial USD 30 Million Phase of its Share Buyback Program Dubai and Amsterdam, 9 December 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that its Board of Directors has approved the commencement of the first phase of its previously announced share buyback program with respect to the Company’s American Depositary Shares (“ADS”). This first phase of the buyback will be in the amount of up to USD 30 million. This USD 30 million first phase is part of VEON’s larger plan to execute a share buyback program of up to U...
- Chris Hoare
VEON (Buy, TP: $65, +88%) Significant Tower Disposal in Pakistan
VEON has announced a significant step on its Tower disposal programme, selling all its Pakistani Towers for $563m. Given the deal represents c.25% of VEON’s current market cap and was not in our view priced in, this should be taken positively.
VEON and Engro Corp Announce Strategic Partnership for Telecommunicat...
VEON and Engro Corp Announce Strategic Partnership for Telecommunications Infrastructure Amsterdam, Dubai and Islamabad, 5 December 2024 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that it is entering into a strategic partnership with Engro Corporation Limited (“Engro Corp”) with respect to the pooling and management of its infrastructure assets, starting in Pakistan. In the first phase of the partnership, VEON’s infrastructure assets housed under Deodar (Private) Limited (“Deodar”), a VEON Group company wholly owned by VEON through its subs...
- Leonard Law
- Trung Nguyen
In an Open Letter to VEON Investors, VEON Group CEO Welcomes the Unfre...
In an Open Letter to VEON Investors, VEON Group CEO Welcomes the Unfreezing of VEON’s Corporate Rights on Kyivstar Amsterdam, Dubai and Kyiv, December 3, 2024 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), shares the following open letter by its Group CEO Kaan Terzioglu to VEON investors on the recent decision by the Shevchenkivskyi District Court of Kyiv, unfreezing VEON's corporate rights on Kyivstar and VEON's other Ukrainian subsidiaries (Ukraine Tower Company, KyivstarTech and Helsi). Dear Valued VEON Investor, On Friday, we reached another milestone in VEON’s growt...
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