AMSTERDAM, Nov. 25, 2019 /PRNewswire/ -- VEON Ltd. (NASDAQ:
VEON) (Euronext Amsterdam: VEON), a leading global provider of
connectivity and internet services, announces that its free float
has increased to 43.8%.
On Friday, 22 November 2019,
Telenor announced the sale of the balance of their shares in the
VEON Group. Telenor held approximately 157 million of VEON Ltd.'s
shares, representing approximately 8.9% of VEON's total outstanding
equity. This transaction is in line with Telenor's previously
announced intention to fully divest its holding in VEON. With this
sale, the free float of the VEON Group has increased from
approximately 34.9% to 43.8%. The shares were placed at
USD 2.35 per share, an effective
discount of 3.7% to the previous day's closing price.
Ursula Burns, VEON's Chairman and
Chief Executive Officer, said: "With Telenor's sale our free float
has increased from approximately 34.9% to 43.8%, representing an
effective increase of approximately 25%. With the removal of the
market overhang from Telenor's anticipated divestment holding, we
believe this final sale by Telenor, which has been anticipated for
some time, is a positive development for the Group."
VEON is a NASDAQ and Euronext Amsterdam-listed global provider
of connectivity and internet services, headquartered in
Amsterdam. Our vision is to
empower customer ambitions through technology, acting as a digital
concierge to guide their choices and connect them with resources
that match their needs.
This release contains "forward-looking statements", as the
phrase is defined in Section 27A of the U.S. Securities Act of
1933, as amended, and Section 21E of the U.S. Securities Exchange
Act of 1934, as amended. Forward-looking statements are not
historical facts, and are inherently subject to risks and
uncertainties, many of which VEON cannot predict with accuracy and
some of which VEON might not even anticipate, including the
expected benefits from the divestment. The forward-looking
statements contained in this release speak only as of the date of
this release. VEON does not undertake to publicly update, except as
required by U.S. federal securities laws, any forward-looking
statement to reflect events or circumstances after such dates or to
reflect the occurrence of unanticipated events.
SOURCE VEON Ltd.