Welcome to our dedicated page for Millicom International Cellular news (Ticker: TIGO), a resource for investors and traders seeking the latest updates and insights on Millicom International Cellular stock.
Millicom International Cellular S.A. reports developments in fixed and mobile telecommunications across Latin America through its TIGO and Tigo Business brands. Company news centers on mobile and fiber-cable services, high-speed data, voice, pay TV, mobile financial services, local entertainment and business-to-business cloud and security offerings.
Recurring updates include operating results, network and fiber-capacity investments, regional connectivity agreements, sports-content arrangements, Colombia consolidation through Coltel, senior-note financing and redemption actions, and shareholder meeting matters.
Millicom (TIGO) has successfully completed its rights offering, issuing a total of 70,357,088 shares. This includes 69,318,977 new shares issued on June 17, 2022, resulting in a capital increase of USD 103,978,465.50. Additionally, on June 28, 2022, 1,038,111 new shares were issued, contributing an extra USD 1,557,166.50 to the share capital. Post-offering, Millicom’s total issued share capital stands at USD 258,144,457.50, represented by 172,096,305 shares with a par value of USD 1.50 each.
Millicom has successfully completed the acquisition of the remaining 20% stake in Tigo Panama, raising its ownership to 100%. This acquisition reflects an exercise of the founders’ liquidity option as outlined in the 2018 Shareholders’ Agreement. With this deal finalized on June 29, 2022, Millicom solidifies its position as the leading telecommunications provider in Panama. The company aims to enhance its service offerings across various digital platforms, benefiting its substantial customer base.
Millicom (Tigo) announced the launch of a new digital platform, Maestr@s Conectad@s, aimed at enhancing digital literacy among teachers in Latin America. Initially launched in 2020, this program has successfully trained over 250,000 educators. The newly developed web-based app offers 20 free courses focused on digital tools and educational innovation, in partnership with AHYU. This initiative aligns with Millicom's commitment to ESG-based education and is crucial for bridging the digital divide in educational systems impacted by the COVID-19 pandemic.
Millicom (TIGO) announced that its recent rights offering was fully subscribed, raising approximately $746 million. On May 18, 2022, the Board resolved to conduct this offering, which saw the subscription of 68,822,675 shares through basic rights. An additional 1,534,413 shares were allotted via oversubscription. The funds will primarily repay a $350 million bridge loan related to Tigo Guatemala's acquisition, with excess proceeds for general corporate purposes. The rights offering's success reflects strong market interest.
Millicom International Cellular S.A. announced a rights offering on May 18, 2022, with management support for full participation, except for one executive. On June 1, 2022, this executive sold 11,000 rights and subscribed for 43,233 rights to acquire additional shares. Millicom operates in the telecommunications sector, providing fixed and mobile services in Latin America, with a customer base of around 50 million and a fiber-cable footprint covering close to 13 million homes. The company continues to enhance its digital service offerings.
Millicom has announced a rights offering aimed at raising approximately $746 million to strengthen its balance sheet and repay a bridge loan of $2.15 billion. This follows a recent acquisition of a 100% equity stake in Tigo Guatemala for $2.2 billion. The offering will allow existing shareholders to subscribe for up to 70.4 million new shares, potentially increasing dilution for non-participating shareholders by about 70%. The subscription price is set at SEK 106 per SDR and $10.61 per new share, with subscription running from May 27 to June 13, 2022.
Millicom (TIGO) has announced the distribution of 40,017 shares to its Board of Directors as part of the remuneration for non-executive directors. This decision follows a resolution by shareholders during the annual general meeting on May 4, 2022. The shares are intended for the period from the 2022 AGM to the 2023 AGM, scheduled for May 2023. Details on the share distribution can be found on Millicom's official website.
Millicom (Tigo) has announced a new record date of May 23, 2022, for its rights offering, applicable for holders of common shares and Swedish Depositary Receipts (SDRs). The conversion between common shares and SDRs will be halted from May 9 to June 13, 2022, during which eligible holders must be aware of the conversion restrictions. Further details regarding the rights offering will be shared prior to its commencement. This announcement does not constitute an offer to buy or sell any securities.
Millicom (TIGO) held its Annual General Meeting (AGM) on May 4, 2022, where all proposed resolutions were approved. Key outcomes include the re-election of key board members and the election of Tomas Eliasson as a new Non-Executive Director. The AGM approved the annual accounts for 2021, the allocation of a profit of USD 204.8 million, and a share repurchase plan. Ernst & Young S.A. was re-elected as the external auditor. The company continues to provide extensive telecommunications services in Latin America, serving approximately 50 million customers.
Millicom is launching a new web-based app for its Conectadas program, aimed at enhancing digital literacy and entrepreneurship among women and girls in Latin America. Since its inception in 2017, over 560,000 women have been trained. The new platform, launching on April 28, 2022, will provide easier access to educational resources, particularly for those in remote areas. Developed in collaboration with Grameen Foundation, the program includes free modules covering internet usage, personal finance, and digital tools for business.