Millicom (Tigo) share repurchase activity
Millicom (Tigo) has concluded its share repurchase program, initially announced on December 15, 2023. The company repurchased 17,164 Swedish Depository Receipts (SDRs) between May 20 and May 22, 2024. This brings the total shares repurchased to 2 million, amounting to SEK 375,950,837 (approximately $35 million). These transactions were carried out on Nasdaq Stockholm by Citigroup Global Markets Following these purchases, Millicom now holds 907,839 treasury shares, with a total of 172,096,305 shares outstanding. The repurchase program adheres to Article 5 of MAR and the Commission Delegated Regulation No 2016/1052.
- Millicom successfully completed its share repurchase program.
- A total of 2 million shares repurchased, amounting to $35 million.
- Millicom holds 907,839 treasury shares post-repurchase.
- All transactions were executed on Nasdaq Stockholm by Citigroup Global Markets
- Repurchase of shares may indicate that the company lacks better investment opportunities.
- Spending $35 million on share repurchase reduces available cash for other investments.
Millicom (Tigo) share repurchase activity
Luxembourg, May 22, 2024 – Pursuant to the share repurchase program announced on December 15, 2023, Millicom repurchased 17,164 of its Swedish Depository Receipts (SDRs) between May 20, 2024 and May 22, 2024, as detailed in the table below. With these transactions, the share repurchase program has concluded, with Millicom repurchasing 2 million shares, for a total amount of SEK 375,950,837 (approximately
| Trade Date | Number of SDRs repurchased | Daily average price paid* (SEK) | Daily repurchase amount* (SEK) |
| 05/20/2024 | 7,463 | 256.7634 | 1,916,225 |
| 05/21/2024 | 7,426 | 256.3550 | 1,903,692 |
| 05/22/2024 | 2,275 | 253.6489 | 577,051 |
* Excluding commissions
All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 907,839 treasury shares as of May 22, 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”). A full breakdown of the transactions is attached to this press release. For information about all transactions carried out under the repurchase program, refer to Nasdaq Stockholm’s website: http://www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares
For further information, please contact:
| Press: Sofía Corral, Communications Director 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 March 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,500 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
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