Veon’s Investor Shah Capital Urges Changes to Boost Share Price

Shah Capital Management, one of Veon Ltd.’s shareholders, has urged the wireless operator to list Ukraine’s largest mobile company Kyivstar and buy back shares to boost its stock performance.

Shah Capital pushed for the listing of Kyivstar on the Nasdaq while citing the potential of “being the sole Ukrainian investment theme on the US equity market,” according to an Oct. 18 dated letter sent to Veon’s management. The North Carolina-based firm owns about 7% stake in Veon.

Veon operates across six markets including Ukraine, Pakistan and Bangladesh. It is in the midst of delisting its shares from Euronext ...