Millicom (Tigo) share repurchase activity
Rhea-AI Summary
Millicom (Tigo) has continued its share repurchase program announced on November 29, 2024, by buying back 164,260 Swedish Depository Receipts (SDRs) between December 30, 2024, and January 03, 2025. The purchases were executed on Nasdaq Stockholm through Citigroup Global Markets
The company paid an average price ranging from SEK 266.39 to SEK 272.51 per SDR, with daily repurchase amounts varying between SEK 12.19 million and SEK 18.54 million. Following these transactions, Millicom now holds 1,972,377 treasury shares out of a total of 172,096,305 outstanding shares.
The repurchase program is being conducted in accordance with Article 5 of MAR and the Commission Delegated Regulation No 2016/1052 (Safe Harbour Regulation).
Positive
- Continued execution of share repurchase program demonstrates financial strength
- Buyback potentially increases shareholder value through reduced share count
- Systematic repurchase approach shows commitment to capital return strategy
Negative
- Cash outflow of approximately SEK 44 million for share repurchases
- Reduced cash availability for other strategic initiatives
News Market Reaction
On the day this news was published, TIGO gained 1.59%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Luxembourg, January 06, 2025 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 164,260 of its Swedish Depository Receipts (SDRs) between December 30, 2024, and January 03, 2025, as detailed in the table below.
| Trade Date | Number of SDRs repurchased | Daily average price paid* (SEK) | Daily repurchase amount* (SEK) |
| 2024-12-30 | 48 973 | 272.5115 | 13 345 706 |
| 2025-01-02 | 45 765 | 266.3909 | 12 191 380 |
| 2025-01-03 | 69 522 | 266.7494 | 18 544 952 |
* Excluding commissions
All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 1,972,377 treasury shares as of January 03, 2025. 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”).
For information about all transactions carried out under the repurchase program, refer to Nasdaq Stockholm’s website:
https://www.nasdaq.com/european-market-activity/news/corporate-actions/repurchase-of-own-shares
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For further information, please contact:
| Press: Sofía Corral, Director Corporate Communications 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 September 30, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people, and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint of about 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
FAQ
How many SDRs did Millicom (TIGO) repurchase between Dec 30, 2024 and Jan 3, 2025?
What was the price range paid by TIGO for the SDRs in January 2025?
How many treasury shares does TIGO hold as of January 3, 2025?
What is the total number of outstanding shares in Millicom (TIGO)?
Which institution executed the share repurchases for TIGO?
