Millicom (Tigo) share repurchase activity
Rhea-AI Summary
Millicom (Tigo) has executed share repurchases of 455,000 Swedish Depository Receipts (SDRs) between December 16-20, 2024, as part of its repurchase program announced on November 29, 2024. The purchases were conducted on Nasdaq Stockholm through Citigroup Global Markets , with daily prices ranging from SEK 268.53 to SEK 271.86 per share. The total investment across the four trading days amounted to approximately SEK 122.95 million. Following these transactions, Millicom now holds 1,724,640 treasury shares out of a total of 172,096,305 outstanding shares.
Positive
- Implementing share buyback program indicating confidence in company value
- Significant repurchase volume of 455,000 SDRs in one week
- Company has financial capacity to execute substantial share repurchases
Negative
- Significant cash outlay of SEK 122.95 million reducing available capital
News Market Reaction
On the day this news was published, TIGO declined 0.90%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Millicom (Tigo) share repurchase activity
Luxembourg, December 23, 2024 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 455,000 of its Swedish Depository Receipts (SDRs) between December 16, 2024, and December 20, 2024, as detailed in the table below.
| Trade Date | Number of SDRs repurchased | Daily average price paid* (SEK) | Daily repurchase amount* (SEK) |
| 2024-12-16 | 105 000 | 270.5982 | 28 412 811 |
| 2024-12-18 | 115 000 | 271.8625 | 31 264 188 |
| 2024-12-19 | 115 000 | 269.9605 | 31 045 458 |
| 2024-12-20 | 120 000 | 268.5334 | 32 224 008 |
* Excluding commissions
All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 1,724,640 treasury shares as of December 20, 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”).
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
-END-
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 shares did TIGO repurchase between December 16-20, 2024?
What was the price range for TIGO's share repurchases in December 2024?
How many treasury shares does TIGO hold after the December 2024 buybacks?
What was the total value of TIGO's share repurchases for December 16-20, 2024?
Which institution executed the share repurchases for TIGO?
