Question · Q3 2025
Vladislav Husnyev requested a detailed description of the $162 million listing costs.
Answer
Oleksandr Komarov, CEO of Kyivstar Group, explained the listing cost as the difference between the share price given to CoinCircle and the net asset value at acquisition, identifying it as a one-off impact. Kaan Terzioğlu, Chairman of the Board, further clarified that under IFRS, this amount is treated as share-based compensation, resulting in a non-cash hit on the P&L despite the company's higher listing valuation.
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