VEON Ltd (NASDAQ: VEON) Stock Is A Definite Buy At Current Levels Of $1.73

VEON Ltd (NASDAQ: VEON) stock trades at $1.73 (up 8.12%) on June 11, 2021. It is undervalued, and investors can add this stock to their portfolio for more gains in the future. 

Improved revenues

In the past ten years, Veon stock has demonstrated profitability for five years. The company reported revenues of $7.9 billion in the past 12 months. 

Elects three new members to the board

Veon elected three new members – Sergi Herrero, Irene Shvakman, and Vasily Sidorov to its director board in an AGM on June 10, 2021. 

Sergi Herrero will relinquish his position as Co-CEO in June 2021. The investors also elected nine previous directors – Stephen Pusey, Andrei Gusev, Gennady Gazin, Mikhail Fridman, Robert Jan van de Kraats, Leonid Boguslavsky, Gunnar Holt, Hans-Holger Albrecht, and Yaroslav Glazunov to the director board.

The board of Veon conveyed gratitude to Amos Genish, Peter Derby, and Osama Bedier for their exemplary service.

Veon reappointed PricewaterhouseCoopers Accountants NV as an independent auditor following the approval of shareholders. 

Unveils digital payments card

Veon’s Kazakhstan-based operating company unveiled its first digital payment card (DPC) linked with its mobile financial services. The company markets the digital payment card under the trademark – “Simply brand.” 

The customer’s phone number is linked to the digital payment card, which comprises a premium digital Visa Platinum card and an electronic wallet. Veon’s DPC is also linked with Garmin Pay, Samsung Pay, and Apple Pay. 

Veon’s CEO, Kaan Terzioglu, said Mobile financial services play an essential role in promoting its future growth. Kaan further said the company has grown its e-commerce businesses and financial services in Pakistan. The company is now expanding its services in Kazakhstan. 

Beeline Kazakhstan’s CEO, Evgeny Nastradin, said the company continues its funding in 4G high-speed data networks in the nation, providing coverage to 77% of the population. Most of the Beeline customers utilize 4G services. Beeline makes an entry into the mobile financial services in Kazakhstan. 

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