Sidley Advises Kyivstar and VEON on Kyivstar Group Ltd.’s US$150.9 Million Secondary Offering of Common Shares

Sidley represented Kyivstar Group Ltd. (Kyivstar) in connection with its secondary offering of 14,375,000 common shares, which included the exercise in full of the underwriters’ option to purchase an additional 1,875,000 common shares, at a price to the public of US$10.50 per common share. The common shares were sold by VEON Amsterdam B.V., the principal shareholder of Kyivstar and a wholly-owned subsidiary of VEON Ltd. (VEON), and certain other selling shareholders, whom Sidley also represented. The offering closed on February 2, 2026.

Kyivstar is Ukraine’s leading digital operator and the first Ukrainian company to list on a U.S. stock exchange, with its common shares listed on the Nasdaq Global Select Market under the ticker symbol “KYIV.” VEON is a digital operator that provides connectivity and digital services to nearly 150 million connectivity customers and over 140 million digital users, listed on the Nasdaq Global Select Market under the ticker symbol “VEON.”

The deal team was led by David Stewart and Jason Hyatt (Capital Markets), and included Tamara Fayad, Kunchok Yaklha, and Ketan Gupta (Capital Markets); and Joseph Paral (Tax).