VEON VEON Ltd. - American Depositary Shares
NASDAQ · Telecommunication · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Mar 16, 2026VEON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| March 8, 2023 | 1-for-25 | Reverse |
| Aug. 22, 2007 | 5-for-1 | Forward |
| Nov. 23, 2004 | 3-for-1 | Forward |
About VEON Ltd. - American Depositary Shares Company overview from Wikipedia
VEON Ltd. (formerly known as VimpelCom Ltd.), also known as VEON Group, is a multinational telecommunications and digital services company. Headquartered in Dubai, United Arab Emirates, the company is publicly traded on the U.S.-based Nasdaq stock exchange.
VEON operates in five markets in Europe and Asia: Bangladesh, Kazakhstan, Pakistan, Ukraine, and Uzbekistan. Its principal telecommunications brands include Banglalink in Bangladesh, Jazz in Pakistan, Kyivstar in Ukraine, and Beeline in Kazakhstan and Uzbekistan.
As of the second quarter of 2026, VEON reported 151.5 million mobile subscribers. Its digital services recorded 227.7 million users active during the quarter in aggregate; VEON's definition of digital customers may count the same user more than once when the user is active across multiple services.
History
2009–2016
VEON Ltd. was founded in 2009 as VimpelCom Ltd., a multinational holding company. Incorporated in Bermuda and headquartered in the Netherlands, VimpelCom was formed when Telenor and Alfa agreed to merge their assets in the telecommunications companies PJSC VimpelCom and Kyivstar. At the time of the incorporation, Kyivstar was Ukraine's largest wireless operator, while PJSC VimpelCom was the second-largest telecommunications operator in Russia. Kyivstar had been founded in 1994 by Ihor Lytovchenko, who also served as its long-term CEO. PJSC VimpelCom, founded in 1992 by American businessman Augie K Fabela II and Dmitry Zimin, was established as a mobile carrier. It launched its Beeline brand in 1993 and listed on the New York Stock Exchange in 1996.
Under CEO Alexander Izosimov, VimpelCom acquired Orascom Telecom and Wind from Naguib Sawiris in 2011. After a number of acquisitions, as of 31 December 2011 VimpelCom had 205 million customers across 20 countries, and by 2012 it was the 13th-largest mobile network operator in the world by number of subscribers. The company switched its listing from the NYSE Euronext to the Nasdaq on 10 September 2013. It sold its majority stake in Wind Mobile to Globalive in 2014 for US$272 million. In 2015, the government of Algeria acquired VimpelCom's 51% stake in Djezzy for US$2.6 billion.
Between 2006 and 2012, VimpelCom and its Uzbek subsidiary Unitel made more than US$114 million in bribery payments in connection with entering and continuing to operate in the Uzbek telecommunications market. U.S. prosecutors later identified the recipient as Gulnara Karimova, daughter of former Uzbek president Islam Karimov. The investigations also concerned VimpelCom's prior dealings with Takilant Ltd.
In February 2016, VimpelCom reached resolutions with the U.S. Securities and Exchange Commission, the United States Department of Justice and Dutch authorities over violations related to its business in Uzbekistan. VimpelCom paid approximately US$795 million in fines and disgorgement, while Unitel entered a guilty plea in the United States. The resolutions also required VimpelCom to retain an independent compliance monitor for three years to assess its compliance program, internal accounting controls, recordkeeping and financial reporting procedures.
VimpelCom reported revenue of US$9.78 billion in 2016, while its assets were reported at US$33.85 billion.
2017–2022
In February 2017, VimpelCom renamed itself VEON, after the messaging platform that it had developed. The company said the rebranding was part of a shift towards positioning itself as a technology company rather than solely a telecommunications firm. VEON began listing its shares on Euronext Amsterdam in April 2017. In July 2017, VEON launched a personal internet platform named VEON in Ukraine, Bangladesh, Pakistan, Italy and Georgia. Following a number of divestments and a business transformation, by mid-2017 VEON had around 200 million combined subscribers across 12 markets.
In March 2018, CEO Jean-Yves Charlier resigned, and CEO duties were temporarily assumed by VEON's chair, Ursula Burns. Burns was appointed CEO in December 2018 while remaining chair. In October 2019, VEON hired Sergi Herrero and former Turkcell CEO Kaan Terzioğlu as joint chief operating officers. They succeeded Burns as co-CEOs in February 2020, and in June 2020 Gennady Gazin succeeded Burns as chairman.
In 2020, VEON purchased the remaining 15% stake in Jazz from Abu Dhabi Group, giving it full ownership. The company also sold its Armenian operations to Team LLC in 2020. In July 2021, Terzioğlu became VEON's Group CEO, with oversight of VEON's executives and regional CEOs assigned to separate markets. The company sold its Georgia unit for US$45 million in June 2022. In August 2022, VEON completed the sale of its remaining stake in Djezzy to the government of Algeria for US$682 million.
Following Russia's full-scale invasion of Ukraine in February 2022, VEON announced the sale of its Russian operations in November 2022.
2023–2025
VEON completed the sale of its Russian operations on 9 October 2023, ending its presence in the Russian market. Following the sale, the company reduced the size of its board from 11 to seven members.
On 25 November 2024, VEON delisted its shares from Euronext Amsterdam, leaving Nasdaq as the company's sole public trading venue. In December 2024, the company moved its group headquarters from Amsterdam to the Dubai International Financial Centre in the United Arab Emirates.
In August 2025, VEON completed the sale of its 50.1% indirect stake in Sky Mobile, which operates under the Beeline brand in Kyrgyzstan, to state-owned Eldik Bank. On 15 August, shares of Kyivstar began trading on Nasdaq under the ticker symbol KYIV, making it the first Ukrainian company to list on a United States stock exchange.
For 2025, VEON reported total revenue of US$4.399 billion, compared with US$4.004 billion in 2024.
Owners
VEON's major shareholders as of 1 March 2026 were:
45.46% of common shares held by LPE Middle East Limited, an affiliate of LetterOne
7.89% held by Stichting Administratiekantoor Mobile Telecommunications Investor
8.17% held by Lingotto Investment Management LLP
6.62% held by Shah Capital Management Inc.
Subsidiaries
VEON operates telecommunications and digital-services businesses in five markets.
Banglalink (Bangladesh) – VEON's telecommunications and digital-services operator in Bangladesh, with 35.0 million mobile subscribers in the second quarter of 2026.
Beeline (Kazakhstan) – VEON's telecommunications and digital-services operator in Kazakhstan, with 11.7 million mobile subscribers in the second quarter of 2026.
Jazz (Pakistan) – VEON's telecommunications and digital-services operator in Pakistan, with 75.4 million mobile subscribers in the second quarter of 2026. Jazz launched 5G services in March 2026.
Kyivstar (Ukraine) – VEON's telecommunications and digital-services operator in Ukraine, with 21.8 million mobile subscribers in the second quarter of 2026. Kyivstar began trading on Nasdaq in August 2025, becoming the first Ukrainian company listed on a U.S. stock exchange.
Beeline (Uzbekistan) – VEON's telecommunications and digital-services operator in Uzbekistan, with 7.7 million mobile subscribers in the second quarter of 2026.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VEON | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 175.25Y avg ≈62.5 | ≈62.5 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VEON | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin | 32.7%5Y avg ≈27.3% | ≈27.3% | · | · | |
| EBITDA Margin | 32.7%5Y avg ≈27.3% | ≈27.3% | · | · | |
| Pretax Margin | 17.8%5Y avg ≈16.7% | ≈16.7% | · | · | |
| Net Profit Margin | 13.4%5Y avg ≈-6.1% | ≈-6.1% | · | · | |
| ROA | 6.9%5Y avg ≈-0.60% | ≈-0.60% | · | · | |
| ROE | 48.5%5Y avg ≈-6.6% | ≈-6.6% | · | · | |
| ROIC | 80.8%5Y avg ≈120.0% | ≈120.0% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VEON | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Quick Ratio | 0.45Y avg ≈0.3 | ≈0.3 | · | · | |
| Interest Coverage | 2.75Y avg ≈2.2 | ≈2.2 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VEON | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.55Y avg ≈0.4 | ≈0.4 | · | · | |
| Receivables Turnover | 8.45Y avg ≈7.9 | ≈7.9 | · | · | |
| Revenue / Employee | ≈$232.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Feb 26, 2020 | $3.75 | USD | ≈12.7% |
| Aug 13, 2019 | $3.25 | USD | ≈11.2% |
| Mar 7, 2019 | $4.25 | USD | ≈7.2% |
| Mar 2, 2018 | $4.25 | USD | ≈9.8% |
| Aug 10, 2017 | $2.75 | USD | ≈8.6% |
| Mar 28, 2017 | $4.88 | USD | ≈5.9% |
| Nov 16, 2016 | $0.88 | USD | ≈1.1% |
| Nov 19, 2015 | $0.88 | USD | ≈0.96% |
| Nov 20, 2014 | $0.88 | USD | ≈0.60% |
| Nov 14, 2013 | $11.25 | USD | ≈12.8% |
| Apr 25, 2013 | $28.50 | USD | ≈16.8% |
| Dec 24, 2012 | $20.00 | USD | ≈7.6% |
| Nov 29, 2011 | $11.25 | USD | ≈6.9% |
| May 27, 2011 | $3.75 | USD | ≈5.8% |
| Mar 15, 2011 | $4.75 | USD | ≈4.7% |
| Nov 24, 2010 | $11.50 | USD | ≈3.0% |
| Nov 9, 2009 | $8.15 | USD | ≈1.6% |
| Apr 28, 2008 | $14.43 | USD | ≈2.0% |
| May 10, 2007 | $8.02 | USD | ≈1.7% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 31, 2026 | $1.69 | $1.49 | 13.5% |
| March 31, 2026 | May 13, 2026 | $1.39 | $1.36 | 2.5% |
| Dec. 31, 2025 | $-0.44 | $1.12 | -139.2% | |
| Sept. 30, 2025 | $-0.48 | $-2.25 | 78.7% | |
| June 30, 2025 | $0.76 | $0.97 | -21.6% | |
| March 31, 2025 | $1.36 | $0.85 | 60.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.40B | $4.00B | $3.70B | $3.75B | $3.85B | $3.48B | $8.09B | $9.09B | $9.47B | $8.88B | |
| SG&A Expense | $1.88B | $1.80B | $1.65B | $1.53B | $1.53B | $1.40B | $2.74B | $3.70B | $3.75B | $3.67B | |
| Operating Income | $1.44B | $1.11B | $929M | $1.16B | $1.02B | $823M | $1.86B | $554M | $1.47B | $1.08B | |
| Interest Expense | $535M | $495M | $531M | $583M | $591M | $569M | $876M | $816M | $935M | $830M | |
| Interest Income | $52M | $49M | $60M | $32M | $13M | $19M | $52M | $67M | $95M | $69M | |
| Pretax Income | $785M | $704M | $559M | $802M | $464M | $373M | $1.04B | $-248M | $328M | $288M | |
| Income Tax | $194M | $217M | $179M | $69M | $344M | $279M | $462M | $369M | $472M | $635M | |
| Net Income | $591M | $487M | $-2.45B | $-9M | $801M | $-316M | $683M | $362M | $-534M | $2.42B | |
| EPS (Basic) | $0.30 | $0.23 | $-1.44 | $-0.09 | $0.38 | $-0.20 | $0.36 | · | · | · | |
| EPS (Diluted) | $0.30 | $0.23 | $-1.44 | $-0.09 | $0.38 | $-0.20 | $0.36 | · | · | · | |
| Shares (Basic) | 1,746,000,000 | 1,770,000,000 | 1,756,000,000 | 1,753,000,000 | 1,756,000,000 | 1,753,000,000 | 1,749,000,000 | 1,749,000,000 | 1,749,000,000 | 1,749,000,000 | |
| Shares (Diluted) | 1,794,000,000 | 1,811,000,000 | 1,782,000,000 | 1,761,000,000 | 1,782,000,000 | 1,761,000,000 | 1,749,000,000 | 1,749,000,000 | 1,749,000,000 | 1,749,000,000 | |
| EBITDA | $1.44B | $1.11B | $929M | $1.16B | $1.54B | $635M | $2.02B | $554M | $1.51B | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $702M | $889M | $448M | $928M | $1.49B | $694M | $932M | $756M | $850M | $1.71B | |
| Receivables | $601M | $448M | $542M | $456M | · | · | · | $577M | $755M | $685M | |
| Inventory | $32M | $15M | $23M | $18M | $111M | $111M | $169M | $141M | $72M | $125M | |
| Current Assets | · | · | · | · | $3.55B | $2.85B | $2.50B | $3.11B | $3.92B | $4.55B | |
| PP&E (Net) | · | · | · | $2.85B | $6.72B | $6.88B | $7.34B | $4.93B | $6.24B | $6.72B | |
| Goodwill | $399M | $338M | $349M | $394M | $1.54B | $2.68B | $3.96B | $3.82B | $4.62B | $4.70B | |
| Intangibles | · | · | · | · | · | · | · | $1.85B | $2.17B | $2.26B | |
| Total Assets | $9.21B | $8.04B | $8.22B | $15.08B | $15.92B | $14.55B | $16.06B | $14.10B | $19.48B | $21.19B | |
| Accounts Payable | $1.44B | $1.28B | $1.20B | $1.09B | $2.03B | $1.95B | $1.85B | $1.62B | $1.54B | $1.74B | |
| Current Liabilities | $3.43B | $3.63B | $3.58B | $4.64B | $4.38B | $4.41B | $5.77B | $4.41B | $4.63B | $6.56B | |
| Stockholders' Equity | $1.34B | $1.10B | $858M | $569M | $586M | $163M | $1.23B | $3.67B | $4.33B | $5.96B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | · | · | · | · | · | $2.44B | $2.95B | $2.52B | $2.48B | $1.88B | |
| CapEx | $733M | $627M | $531M | $634M | $699M | $550M | · | · | · | · | |
| Investing Cash Flow | · | · | · | · | · | $-1.91B | $-1.89B | $2.00B | $-3.02B | $-2.67B | |
| Financing Cash Flow | · | · | · | · | · | $-103M | $-1.64B | $-3.92B | $-733M | $-126M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 32.7% | 27.7% | 25.1% | 31.0% | 19.8% | 8.0% | · | 6.1% | 15.9% | · | |
| Net Margin | 13.4% | 12.2% | -66.2% | -0.24% | 10.3% | -4.0% | · | 4.0% | -5.2% | · | |
| Pretax Margin | 17.8% | 17.6% | 15.1% | 21.4% | 11.7% | 0.33% | · | -2.7% | -0.25% | · | |
| EBITDA Margin | 32.7% | 27.7% | 25.1% | 31.0% | 19.8% | 8.0% | · | 6.1% | 15.9% | · | |
| ROA | 6.9% | 6.0% | -21.0% | -0.06% | 5.3% | -2.1% | 4.3% | 2.2% | -2.4% | · | |
| ROE | 48.5% | 49.8% | -343.4% | -1.6% | 213.9% | -45.5% | 27.9% | 9.0% | -9.6% | · | |
| ROIC | 80.8% | 69.9% | 73.6% | 186.8% | 188.6% | -4734.8% | 95.2% | 37.6% | 715.2% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | · | 0.8 | 0.6 | 0.4 | 0.7 | 0.8 | · | |
| Quick Ratio | 0.4 | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | · | |
| Interest Coverage | 2.7 | 2.2 | 1.7 | 2.0 | 2.2 | 0.9 | 2.3 | 0.7 | 1.6 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.3 | 0.2 | 0.5 | 0.5 | · | 0.5 | 0.5 | · | |
| Receivables Turnover | 8.4 | 8.0 | 7.4 | · | · | · | · | 13.6 | 13.3 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $2.45 | $2.21 | $2.08 | $2.13 | $4.44 | $4.56 | · | $5.20 | $5.42 | · | |
| Cash Flow / Share | · | · | · | · | · | $1.40 | $1.69 | $1.44 | $1.42 | · | |
| Dividend / Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | · | · | · | |
| EPS (TTM) | $0.30 | $0.23 | $-1.44 | $-0.09 | $0.38 | $-0.20 | $0.36 | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $4.40B | $4.00B | $3.70B | $3.75B | $3.85B | $3.48B | $8.09B | $9.09B | $9.47B | · | |
| Net Income TTM | $591M | $487M | $-2.45B | $-9M | $801M | $-316M | $683M | $362M | $-534M | · | |
| P/E | 175.2 | 174.3 | -13.7 | -136.1 | 112.5 | -188.8 | 175.7 | · | · | · | |
| Earnings Yield | 0.57% | 0.57% | -7.3% | -0.73% | 0.89% | -0.53% | 0.57% | · | · | · |
Valuation (TTM)
| Metric | Trend | Q4 2016 | Q4 2015 | Q4 2014 | Q4 2013 | Q4 2012 | Q4 2011 | Q4 2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.88B | $9.61B | · | · | · | · | · | |
| Net Income TTM | $2.42B | $-553M | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $4.40B | $4.00B | $3.70B | $3.75B | $3.85B |
| Operating Margin % | 32.7% | 27.7% | 25.1% | 31.0% | 19.8% |
| Net Income | $591M | $487M | $-2.45B | $-9M | $801M |
| Diluted EPS | $0.30 | $0.23 | $-1.44 | $-0.09 | $0.38 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | · | · | · | · | 0.8 |
| Quick Ratio | 0.4 | 0.4 | 0.3 | 0.2 | 0.3 |
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 117 filers · $827.6M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 22 (+12 vs prior Q) | 10 (-12 vs prior Q) | 34 (-4 vs prior Q) | 29 (-6 vs prior Q) | -1.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Lingotto Investment Management LLP | $274,892,072 | 5,265,123 | 33.22% | Shares |
| SHAH CAPITAL MANAGEMENT | $243,694,247 | 4,667,578 | 29.45% | Shares |
| Solus Alternative Asset Management LP | $46,310,374 | 887,002 | 5.60% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $40,675,610 | 779,077 | 4.91% | Shares |
| MORGAN STANLEY | $39,045,353 | 747,852 | 4.72% | Shares |
| Panview Capital Ltd | $32,924,461 | 630,616 | 3.98% | Shares |
| VR Advisory Services Ltd | $31,388,913 | 601,205 | 3.79% | Shares |
| Pictet Asset Management Holding SA | $14,835,210 | 284,145 | 1.79% | Shares |
| MACKENZIE FINANCIAL CORP | $14,285,648 | 273,619 | 1.73% | Shares |
| TWO SIGMA INVESTMENTS, LP | $10,126,130 | 193,950 | 1.22% | Shares |
| GABELLI FUNDS LLC | $6,570,106 | 125,840 | 0.79% | Shares |
| JPMORGAN CHASE & CO | $5,868,103 | 112,935 | 0.71% | Shares |
| Russell Investments Group, Ltd. | $5,841,091 | 111,876 | 0.71% | Shares |
| CITADEL ADVISORS LLC | $4,206,507 | 80,569 | 0.51% | Shares |
| TWO SIGMA ADVISERS, LP | $3,986,068 | 75,824 | 0.48% | Shares |
| RWC Asset Management LLP | $3,561,087 | 68,207 | 0.43% | Shares |
| JGP Global Gestao de Recursos Ltda. | $3,485,018 | 66,750 | 0.42% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3,148,770 | 68,008 | 0.38% | Shares |
| Cubist Systematic Strategies, LLC | $2,016,523 | 37,048 | 0.24% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,873,190 | 35,878 | 0.23% | Shares |
| MARSHALL WACE, LLP | $1,841,969 | 35,280 | 0.22% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $1,722,930 | 33,000 | 0.21% | Shares |
| DIVERSIFY WEALTH MANAGEMENT, LLC | $1,653,396 | 31,981 | 0.20% | Shares |
| Diversify Advisory Services, LLC | $1,653,396 | 31,981 | 0.20% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,588,541 | 30,426 | 0.19% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $1,575,593 | 30,178 | 0.19% | Shares |
| GOLDMAN SACHS GROUP INC | $1,544,633 | 29,585 | 0.19% | Shares |
| Hudson Bay Capital Management LP | $1,536,958 | 29,438 | 0.19% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $1,529,000 | 29,290 | 0.18% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,521,452 | 29,141 | 0.18% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,507,722 | 28,882 | 0.18% | Shares |
| Point72 Asset Management, L.P. | $1,394,425 | 26,708 | 0.17% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $1,372,496 | 26,288 | 0.17% | Shares |
| Dorsey Wright & Associates | $1,326,082 | 25,399 | 0.16% | Shares |
| Vontobel Holding Ltd. | $1,224,899 | 23,461 | 0.15% | Shares |
| QRG CAPITAL MANAGEMENT, INC. | $1,014,754 | 19,436 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $945,001 | 18,100 | 0.11% | Put option |
| UBS Group AG | $920,776 | 17,636 | 0.11% | Shares |
| AdvisorShares Investments LLC | $833,167 | 15,958 | 0.10% | Shares |
| BANK OF AMERICA CORP /DE/ | $804,348 | 15,406 | 0.10% | Shares |
| BlackRock, Inc. | $731,671 | 14,014 | 0.09% | Shares |
| GAMCO INVESTORS, INC. ET AL | $712,144 | 13,640 | 0.09% | Shares |
| STIFEL FINANCIAL CORP | $691,309 | 13,241 | 0.08% | Shares |
| SBI Securities Co., Ltd. | $630,436 | 12,075 | 0.08% | Shares |
| DEUTSCHE BANK AG\ | $626,520 | 12,000 | 0.08% | Shares |
| K2 PRINCIPAL FUND, L.P. | $556,298 | 10,655 | 0.07% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $547,683 | 10,490 | 0.07% | Shares |
| Trexquant Investment LP | $488,633 | 9,359 | 0.06% | Shares |
| MML INVESTORS SERVICES, LLC | $463,625 | 8,880 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $449,006 | 8,600 | 0.05% | Call option |
Activists & 5%+ owners 10 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| L1TS (Cyprus) Ltd, LPE Middle East Limited, Letterone Investment Holdings S.A. | Sept. 25, 2026 | 45.46% | Amendment | · | SEC |
| LPE Middle East Limited, L1TS (Cyprus) Ltd, Letterone Investment Holdings S.A. | Dec. 18, 2025 | 45.46% | Amendment | · | SEC |
| Shah Capital Management, Shah Capital Opportunity Fund LP, Himanshu H. Shah ×3 filings | Oct. 21, 2024 | · | Initial filing | Passive investment | SEC |
| Telenor East Holding II AS, Telenor Mobile Holding AS, Telenor ASA ×40 filings | Nov. 26, 2019 | · | Initial filing | · | SEC |
| L1T VIP Holdings S.à r.l. 000-00-0000, Letterone Core Investments S.à r.l. 000-00-0000, Letterone Investment Holdings S.A. 000-00-0000 ×4 filings | Sept. 13, 2019 | · | Initial filing | · | SEC |
| Altimo Coöperatief U.A. 000-00-0000, Altimo Holdings & Investments Ltd. 000-00-0000, Letterone Overseas Investments Limited 000-00-0000, Letterone Holdings S.A. 000-00-0000 ×16 filings | Dec. 18, 2014 | · | Initial filing | · | SEC |
| Altimo Coöperatief U.A 000-00-0000, Altimo Holdings & Investments Limited 000-00-0000, CTF Holdings Limited 000-00-0000, Crown Finance Foundation 000-00-0000 | April 9, 2013 | · | Initial filing | · | SEC |
| Weather Investments II S. à r.l. 000-00-0000, Marchmont Limited 000-00-0000, February Private Trust Company (Jersey) Limited, as Trustee of the Marchmont Trust 000-00-0000 ×7 filings | Aug. 16, 2012 | · | Initial filing | · | SEC |
| Forrielite Limited, Oleg Kiselev ×2 filings | Jan. 4, 2012 | · | Initial filing | · | SEC |
| Telenor Mobile Communications AS, Telenor East Holding II AS, Telenor East Invest AS, Telenor Mobile Holding AS, Telenor ASA ×4 filings | Dec. 21, 2010 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 2 insiders · 0 officers · 1 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael Pompeo | Director | June 7, 2026 A | 186,435 | 0 | 0 | $0 |
| Augie K Fabela II | · | Aug. 7, 2026 P | 96,000 | 3 | 0 | $1,119,969 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 1 ETF
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ISCF · iShares Trust | 0.15% | 14,754 SH | Sept. 11, 2026 | Daily |
VEON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
7 analysts · 2026-10-01Mean target $86.87 +14.9%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VEON | · | 175.2 | · | 13.4% | 48.5% | · |
| KYIV | · | 22.8 | · | 10.7% | 10.4% | · |
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