Millicom (Tigo) share repurchase activity

Rhea-AI Summary

Millicom (Tigo) has completed a series of share repurchases between December 2-6, 2024, acquiring 277,905 Swedish Depository Receipts (SDRs). The purchases were executed on Nasdaq Stockholm by Citigroup Global Markets , with daily prices ranging from SEK 270.44 to SEK 282.85. The largest single-day purchase was 92,000 SDRs on December 2, while the smallest was 20,097 SDRs on December 5.

Following these transactions, Millicom now holds 868,951 treasury shares out of a total of 172,096,305 outstanding shares. The repurchase program was initially announced on November 29, 2024, and all transactions were conducted on Nasdaq Stockholm.

Positive

• Strategic share repurchase program implementation shows confidence in company value
• Acquisition of 277,905 SDRs demonstrates significant buyback execution
• Company maintains strong treasury position with 868,951 shares

Negative

• Significant cash outflow of approximately SEK 76.9 million for share repurchases
• Reduction in company's available cash reserves

Insights

Financial Analyst

The share repurchase activity demonstrates Millicom's continued execution of its buyback program, with a total of 277,905 SDRs acquired over a 4-day period. The average purchase price showed an upward trend from SEK 270.44 to SEK 282.85, indicating growing market confidence. The company now holds 868,951 treasury shares, representing approximately 0.5% of total outstanding shares. Share buybacks typically signal management's confidence in the company's valuation and commitment to returning capital to shareholders. The structured nature of the purchases through Citigroup and compliance with market regulations suggests a well-executed capital allocation strategy. This buyback activity could provide price support and enhance shareholder value through reduced share count, though the relatively small size limits the immediate impact on earnings per share.

Millicom (Tigo) share repurchase activity

Luxembourg, December 9, 2024 - Pursuant to the share repurchases announced on November 29, 2024, Millicom repurchased 277,905 of its Swedish Depository Receipts (SDRs) between December 2, 2024, and December 6, 2024, as detailed in the table below.

Trade Date	Number of SDRs repurchased	Daily average price paid* (SEK)	Daily repurchase amount* (SEK)
12/2/2024	92,000	270.4372	24,880,222
12/3/2024	90,990	277.8241	25,279,215
12/4/2024	74,818	281.1744	21,036,906
12/5/2024	20,097	282.8504	5,684,444

* Excluding commissions

All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 868,951 treasury shares as of December 6, 2024. The total number of shares outstanding in Millicom is 172,096,305.

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 Millicom (TIGO) repurchase between December 2-6, 2024?

Millicom repurchased 277,905 Swedish Depository Receipts (SDRs) between December 2-6, 2024.

What was the price range for TIGO's share repurchases in December 2024?

The daily average prices ranged from SEK 270.4372 to SEK 282.8504 per share.

How many treasury shares does Millicom (TIGO) hold as of December 6, 2024?

As of December 6, 2024, Millicom holds 868,951 treasury shares.

Which institution executed the share repurchases for Millicom (TIGO)?

Citigroup Global Markets executed the purchases on behalf of Millicom on Nasdaq Stockholm.