Millicom (Tigo) share repurchase activity
Rhea-AI Summary
Millicom (Tigo) has repurchased 36,701 of its Swedish Depository Receipts (SDRs) between May 13, 2024, and May 17, 2024, as part of its share repurchase program announced on December 15, 2023. The daily repurchase amounts varied, with 7,577 SDRs repurchased on May 13 at an average price of 245.06 SEK, totaling 1,856,885 SEK, and 7,300 SDRs repurchased on May 17 at an average price of 254.12 SEK, totaling 1,855,148 SEK. All purchases were made on Nasdaq Stockholm by Citigroup Global Markets Following these transactions, Millicom holds 890,675 treasury shares. The total number of shares outstanding in Millicom is 172,096,305. This activity follows the provisions of Article 5 of MAR and the Commission Delegated Regulation No 2016/1052.
Positive
- Repurchase of 36,701 SDRs, potentially increasing shareholder value.
- Execution consistent with regulatory provisions, ensuring compliance.
- Millicom now holds 890,675 treasury shares, indicating a strong buyback strategy.
- Consistent execution by Citigroup Global Markets on Nasdaq Stockholm.
Negative
- Repurchase might indicate Millicom's lack of better investment opportunities.
- Short-term financial outlay of approximately 9,216,270 SEK.
News Market Reaction
On the day this news was published, TIGO gained 0.50%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Millicom (Tigo) share repurchase activity
Luxembourg, May 17, 2024 – Pursuant to the share repurchase program announced on December 15, 2023, Millicom repurchased 36,701 of its Swedish Depository Receipts (SDRs) between May 13, 2024 and May 17, 2024, as detailed in the table below.
| Trade Date | Number of SDRs repurchased | Daily average price paid* (SEK) | Daily repurchase amount* (SEK) |
| 05/13/2024 | 7,577 | 245.0686 | 1,856,885 |
| 05/14/2024 | 7,110 | 249.4592 | 1,773,655 |
| 05/15/2024 | 7,437 | 252.9747 | 1,881,373 |
| 05/16/2024 | 7,277 | 254.1169 | 1,849,209 |
| 05/17/2024 | 7,300 | 254.1299 | 1,855,148 |
* Excluding commissions
All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 890,675 treasury shares as of May 17, 2024. The total number of shares outstanding in Millicom is 172,096,305.
The repurchase program is being executed consistent with the provisions of Article 5 of MAR and the Commission Delegated Regulation No 2016/1052 (“Safe Harbour Regulation”). A full breakdown of the transactions is attached to this press release. For information about all transactions carried out under the repurchase program, refer to Nasdaq Stockholm’s website: http://www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares
For further information, please contact:
| Press: Sofía Corral, Communications Director press@millicom.com | Investors: Michel Morin, VP Investor Relations investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,500 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
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