Millicom (Tigo) reiterates intention to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm
Millicom (Tigo) has confirmed its plan to consolidate its listing on NASDAQ U.S. by delisting Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm. The company intends to file the delisting application on March 3, 2025, with the last trading day for SDRs expected around March 17, 2025.
The consolidation aims to achieve several strategic benefits including:
- Improved shareholder liquidity
- Better access to capital
- Attraction of Latin America-focused investors
- Potential inclusion in equity indices
- Simplified corporate governance
- Reduced administrative costs
SDR holders must contact their financial institutions to convert their holdings into Millicom U.S. shares before delisting. Any remaining unconverted SDRs will be sold by the custodian bank (SEB), with net proceeds distributed to holders after all shares are sold.
Millicom (Tigo) ha confermato il suo piano di consolidare la sua quotazione su NASDAQ U.S. dismettendo i Certificati di Deposito Svedesi (SDR) da Nasdaq Stoccolma. L'azienda intende presentare la domanda di dismissione il 3 marzo 2025, con l'ultimo giorno di negoziazione per gli SDR previsto intorno al 17 marzo 2025.
Il consolidamento mira a ottenere diversi benefici strategici, tra cui:
- Aumento della liquidità per gli azionisti
- Maggiore accesso al capitale
- Attrazione di investitori focalizzati sull'America Latina
- Possibile inclusione negli indici azionari
- Governance aziendale semplificata
- Riduzione dei costi amministrativi
I detentori di SDR devono contattare le loro istituzioni finanziarie per convertire le loro partecipazioni in azioni Millicom U.S. prima della dismissione. Gli SDR non convertiti verranno venduti dalla banca custode (SEB), con i proventi netti distribuiti ai detentori dopo la vendita di tutte le azioni.
Millicom (Tigo) ha confirmado su plan para consolidar su cotización en NASDAQ U.S. al deslistar los Recibos de Depósito Suecos (SDR) de Nasdaq Estocolmo. La compañía tiene la intención de presentar la solicitud de deslistado el 3 de marzo de 2025, siendo el último día de negociación para los SDR esperado alrededor del 17 de marzo de 2025.
La consolidación tiene como objetivo lograr varios beneficios estratégicos, incluyendo:
- Mejora de la liquidez para los accionistas
- Mejor acceso al capital
- Atracción de inversores enfocados en América Latina
- Posible inclusión en índices de acciones
- Gobernanza corporativa simplificada
- Reducción de costos administrativos
Los tenedores de SDR deben contactar a sus instituciones financieras para convertir sus participaciones en acciones de Millicom U.S. antes del deslistado. Cualquier SDR no convertido será vendido por el banco custodio (SEB), y los ingresos netos se distribuirán a los tenedores después de que se vendan todas las acciones.
밀리컴 (Tigo)은 스웨덴 예탁증서(SDR)를 나스닥 스톡홀름에서 상장 폐지하고 NASDAQ U.S.에 상장을 통합할 계획을 확인했습니다. 회사는 2025년 3월 3일에 상장 폐지 신청서를 제출할 예정이며, SDR의 마지막 거래일은 2025년 3월 17일경으로 예상됩니다.
이 통합은 다음과 같은 여러 전략적 이점을 달성하는 것을 목표로 합니다:
- 주주 유동성 증대
- 자본 접근성 향상
- 라틴 아메리카 중심의 투자자 유치
- 주식 지수 포함 가능성
- 간소화된 기업 거버넌스
- 관리 비용 절감
SDR 보유자는 상장 폐지 전에 자신의 지분을 Millicom U.S. 주식으로 전환하기 위해 금융 기관에 연락해야 합니다. 전환되지 않은 SDR은 수탁은행(SEB)에 의해 판매되며, 모든 주식이 판매된 후 순수익이 보유자에게 분배됩니다.
Millicom (Tigo) a confirmé son intention de consolider son inscription sur NASDAQ U.S. en délistant les Receipts de Dépôt Suédois (SDR) de Nasdaq Stockholm. La société prévoit de soumettre la demande de délistage le 3 mars 2025, le dernier jour de négociation pour les SDR étant attendu aux alentours du 17 mars 2025.
La consolidation vise à atteindre plusieurs avantages stratégiques, notamment :
- Amélioration de la liquidité des actionnaires
- Meilleur accès au capital
- Attraction d'investisseurs axés sur l'Amérique Latine
- Inclusion potentielle dans les indices boursiers
- Gouvernance d'entreprise simplifiée
- Réduction des coûts administratifs
Les détenteurs de SDR doivent contacter leurs institutions financières pour convertir leurs avoirs en actions Millicom U.S. avant le délistage. Tous les SDR non convertis seront vendus par la banque dépositaire (SEB), et les produits nets seront distribués aux détenteurs après la vente de toutes les actions.
Millicom (Tigo) hat seinen Plan bestätigt, die Notierung an der NASDAQ U.S. zu konsolidieren, indem die Schwedischen Depotreceipts (SDRs) von Nasdaq Stockholm abgezogen werden. Das Unternehmen beabsichtigt, den Antrag auf Delisting am 3. März 2025 einzureichen, wobei der letzte Handelstag für die SDRs voraussichtlich um den 17. März 2025 liegen wird.
Die Konsolidierung zielt darauf ab, mehrere strategische Vorteile zu erzielen, darunter:
- Verbesserte Liquidität für Aktionäre
- Besseren Zugang zu Kapital
- Attraktivität für auf Lateinamerika fokussierte Investoren
- Potenzielle Aufnahme in Aktienindizes
- Vereinfachte Unternehmensführung
- Reduzierte Verwaltungskosten
SDR-Inhaber müssen ihre Finanzinstitute kontaktieren, um ihre Bestände vor dem Delisting in Millicom U.S.-Aktien umzuwandeln. Alle verbleibenden nicht umgewandelten SDRs werden von der Depotbank (SEB) verkauft, wobei die Nettoprovisionen nach dem Verkauf aller Aktien an die Inhaber verteilt werden.
- Consolidation expected to improve trading liquidity
- Potential for better access to capital markets
- Reduced administrative costs through simplified structure
- Possible inclusion in U.S. equity indices
- Risk of forced sale for unconverted SDRs
- Additional transaction costs for SDR holders during conversion
- Potential loss of European investor base
Insights
The planned consolidation of Millicom's listing to NASDAQ U.S. represents a strategic pivot that could significantly enhance the company's market position and trading dynamics. This move aligns with a broader trend of companies streamlining their listings to optimize market presence and reduce operational complexity.
The consolidation offers several strategic advantages:
- Enhanced trading liquidity through concentration of volume on a single exchange
- Simplified corporate governance structure reducing compliance costs and administrative burden
- Potential inclusion in U.S.-based Latin America focused indices, which could drive passive investment flows
- Better positioning to attract specialized Latin American market investors, particularly relevant given Millicom's regional focus
For existing SDR holders, the March 17th deadline creates a critical decision point. Those who fail to convert their holdings face automatic liquidation of their positions, with proceeds distributed after deducting transaction costs. This forced conversion mechanism could create temporary selling pressure as remaining SDRs are liquidated.
The timing of this move is particularly strategic given the growing interest in Latin American telecommunications infrastructure and digital transformation. By consolidating on NASDAQ U.S., Millicom positions itself to better tap into this investment narrative and potentially command stronger analyst coverage from firms specializing in emerging market telecommunications.
The reduction in administrative costs and streamlined corporate structure should translate into operational efficiencies, though the immediate impact may be partially offset by one-time transition costs. The long-term benefits of simplified operations and potentially improved trading multiples through better market access could outweigh these short-term considerations.
Millicom (Tigo) reiterates intention to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm
Luxembourg, February 20, 2025 – As previously communicated on November 29, 2024, Millicom International Cellular S.A. (“Millicom”) today reiterated that it intends to file a delisting application with Nasdaq Stockholm on March 3, 2025, which will result in the SDR program being terminated. The last day of trading for SDRs is estimated to be on or around March 17, 2025. The exact date will be decided by Nasdaq Stockholm upon approval of the delisting application.
The Company anticipates that consolidating the listing of its shares onto one single exchange, the Nasdaq Stock Market in the United States (“Nasdaq U.S.”), will provide improved levels of liquidity to its shareholders, appropriate access to capital for Millicom, attract new investors focused on Latin America, potential inclusion on certain equity indices, a simplified corporate governance structure and a reduction in administrative costs.
SDR holders who wish to remain as shareholders of Millicom must contact their financial institution in order to convert their SDRs into Millicom U.S. Shares prior to the SDR delisting.
After the SDR delisting and as stipulated in the SDR program terms and conditions, the custodian bank (SEB) will sell the Millicom U.S. shares underlying any remaining SDRs, and proceeds (net of transaction costs, fees and taxes) will be distributed to SDR holders who failed to provide timely conversion instructions prior to the SDR delisting. Net cash proceeds will be distributed only after all shares have been sold.
Further information on the delisting and conversions of SDRs into Millicom U.S. Shares is available in Millicom’s previous press releases and in a letter sent by Millicom to all directly registered holders of SDRs available on this link: 2024_12_16_Information_Letter_to_SDR_holders_bd3af1ff81_2ab74c41bf.pdf
This information, plus some additional information, is also available on the “Nasdaq Stockholm Delisting & Interim Dividend” section of Millicom’s webpage: https://www.millicom.com/investors/Nasdaq_Stockholm_Delisting_and_Interim_Dividend
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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
When will TIGO delist its SDRs from Nasdaq Stockholm?
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