Millicom (Tigo) share repurchase activity

Rhea-AI Summary

Millicom (Tigo) has reported its latest share repurchase activity under the program announced on November 29, 2024. Between December 23-27, 2024, the company repurchased 83,477 Swedish Depository Receipts (SDRs), with 57,000 SDRs purchased at SEK 268.5452 per share on December 23, and 26,477 SDRs at SEK 270.4081 on December 27. The total investment amounts to approximately SEK 22.47 million, excluding commissions.

All transactions were executed on Nasdaq Stockholm by Citigroup Global Markets Following these purchases, Millicom now holds 1,808,117 treasury shares out of a total of 172,096,305 outstanding shares.

Positive

• Strategic share repurchase program actively being executed
• Company demonstrates financial capacity to conduct buybacks
• Potential positive impact on EPS through share count reduction

Negative

• Cash outflow of SEK 22.47 million for buyback reduces available capital

Insights

Financial Markets Analyst

<p>The share repurchase activity shows TIGO executing on its previously announced buyback program, acquiring <b>83,477 SDRs</b> at average prices between <money>SEK 268.55</money> and <money>SEK 270.41</money>, totaling approximately <money>SEK 22.47 million</money> (<money>$2.2 million</money>). The company now holds <b>1,808,117 treasury shares</b>, representing about <percent>1.05%</percent> of total outstanding shares.</p><p>This systematic buyback demonstrates management's confidence in the company's valuation and commitment to returning capital to shareholders. The execution through Citigroup and compliance with MAR and Safe Harbour Regulation ensures market integrity and price stability. While the daily volume is moderate, the consistent implementation suggests a well-structured program that balances capital allocation with market impact.</p><p>For retail investors, share buybacks typically support stock prices by reducing the float and increasing earnings per share. However, the relatively small size of this week's purchases compared to TIGO's <money>$4.2 billion</money> market cap suggests minimal immediate price impact, though the cumulative effect of the ongoing program could provide gradual support to share value.</p>

Millicom (Tigo) share repurchase activity

Luxembourg, December 30, 2024 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 83,477 of its Swedish Depository Receipts (SDRs) between December 23, 2024, and December 27, 2024, as detailed in the table below.

Trade Date	Number of SDRs repurchased	Daily average price paid* (SEK)	Daily repurchase amount* (SEK)
2024-12-23	57 000	268.5452	15 307 076
2024-12-27	26 477	270.4081	7 159 595

* Excluding commissions

All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 1,808,117 treasury shares as of December 27, 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

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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 shares did Millicom (TIGO) repurchase between December 23-27, 2024?

Millicom repurchased 83,477 Swedish Depository Receipts (SDRs) between December 23-27, 2024.

What was the average price paid per share in TIGO's December 2024 buyback?

Millicom paid SEK 268.5452 per share on December 23 and SEK 270.4081 per share on December 27, 2024.

How many treasury shares does TIGO hold after the December 2024 buybacks?

Following the December 2024 purchases, Millicom holds 1,808,117 treasury shares.

What is the total number of outstanding shares for Millicom (TIGO)?

The total number of shares outstanding in Millicom is 172,096,305.

When did Millicom (TIGO) announce its current share repurchase program?

Millicom announced its current share repurchase program on November 29, 2024.