Millicom (Tigo) share repurchase activity

Rhea-AI Summary

Millicom (Tigo) has executed share repurchases of 455,000 Swedish Depository Receipts (SDRs) between December 16-20, 2024, as part of its repurchase program announced on November 29, 2024. The purchases were conducted on Nasdaq Stockholm through Citigroup Global Markets , with daily prices ranging from SEK 268.53 to SEK 271.86 per share. The total investment across the four trading days amounted to approximately SEK 122.95 million. Following these transactions, Millicom now holds 1,724,640 treasury shares out of a total of 172,096,305 outstanding shares.

Positive

• Implementing share buyback program indicating confidence in company value
• Significant repurchase volume of 455,000 SDRs in one week
• Company has financial capacity to execute substantial share repurchases

Negative

• Significant cash outlay of SEK 122.95 million reducing available capital

Insights

Financial Analyst

The share repurchase activity by Millicom (Tigo) demonstrates a significant capital allocation decision, with the company acquiring 455,000 SDRs over a week at prices ranging from SEK 268.53 to SEK 271.86. The total treasury shares now stand at 1,724,640, representing about 1% of the total outstanding shares of 172,096,305. The systematic execution through Citigroup and compliance with MAR and Safe Harbour Regulation indicates a well-structured buyback program. Share repurchases typically signal management's confidence in the company's valuation and future prospects, while also potentially supporting the stock price by reducing the float. The average daily volume and consistent pricing suggest a measured approach to avoid market disruption. The timing, just before year-end, could be strategic for tax purposes or balance sheet optimization.

Market Research Analyst

This buyback represents a strategic market move with broader implications for Tigo's capital markets presence. The daily purchase volumes ranging from 105,000 to 120,000 SDRs show careful execution to minimize price impact while maintaining meaningful repurchase levels. The tight price range of the purchases (1.2% spread) suggests stable market conditions and efficient execution. For retail investors, this activity could indicate a price floor around current levels, though it's notable that the company is conducting these purchases on Nasdaq Stockholm rather than in other markets where its securities trade. The consistency in daily volumes and the execution through a major investment bank points to a well-planned program that balances market impact with program objectives.

Millicom (Tigo) share repurchase activity

Luxembourg, December 23, 2024 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 455,000 of its Swedish Depository Receipts (SDRs) between December 16, 2024, and December 20, 2024, as detailed in the table below.

Trade Date	Number of SDRs repurchased	Daily average price paid* (SEK)	Daily repurchase amount* (SEK)
2024-12-16	105 000	270.5982	28 412 811
2024-12-18	115 000	271.8625	31 264 188
2024-12-19	115 000	269.9605	31 045 458
2024-12-20	120 000	268.5334	32 224 008

* Excluding commissions

All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, Millicom holds 1,724,640 treasury shares as of December 20, 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 TIGO repurchase between December 16-20, 2024?

TIGO repurchased 455,000 Swedish Depository Receipts (SDRs) between December 16-20, 2024.

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

The daily average prices ranged from SEK 268.53 to SEK 271.86 per share during the December 16-20, 2024 repurchase period.

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

Following the December 2024 purchases, TIGO holds 1,724,640 treasury shares out of 172,096,305 total outstanding shares.

What was the total value of TIGO's share repurchases for December 16-20, 2024?

The total value of the repurchases was approximately SEK 122.95 million, excluding commissions.

Which institution executed the share repurchases for TIGO?

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