Nasdaq Stockholm approved the delisting of Millicom (Tigo) SDRs and set the last day of trading on March 17, 2025
Millicom (Tigo) has received approval from Nasdaq Stockholm for the delisting of its Swedish Depository Receipts (SDRs), with the final trading day set for March 17, 2025. Following this decision, SDR holders must convert their holdings into common shares traded on the U.S. Nasdaq Stock Market by March 19, 2025 (3:00 pm CET).
SDR holders who fail to convert their holdings before the deadline will have their underlying Millicom U.S. Shares sold by SEB, with proceeds distributed in SEK on a pro-rata basis, minus applicable costs and fees. The sale process duration will depend on daily trading restrictions and the total volume of remaining SDRs.
Millicom (Tigo) ha ricevuto l'approvazione da Nasdaq Stockholm per la revoca della quotazione dei suoi Swedish Depository Receipts (SDRs), con l'ultimo giorno di negoziazione fissato per 17 marzo 2025. A seguito di questa decisione, i detentori di SDR devono convertire le loro partecipazioni in azioni ordinarie quotate nel mercato azionario Nasdaq degli Stati Uniti entro 19 marzo 2025 (15:00 CET).
I detentori di SDR che non riusciranno a convertire le loro partecipazioni prima della scadenza avranno le loro azioni sottostanti di Millicom vendute da SEB, con i proventi distribuiti in SEK su base pro-rata, al netto dei costi e delle commissioni applicabili. La durata del processo di vendita dipenderà dalle restrizioni giornaliere di negoziazione e dal volume totale degli SDR rimanenti.
Millicom (Tigo) ha recibido la aprobación de Nasdaq Stockholm para la exclusión de sus Swedish Depository Receipts (SDRs), con el último día de negociación establecido para el 17 de marzo de 2025. Tras esta decisión, los tenedores de SDR deben convertir sus participaciones en acciones ordinarias cotizadas en el mercado de valores Nasdaq de EE. UU. antes del 19 de marzo de 2025 (3:00 pm CET).
Los tenedores de SDR que no logren convertir sus participaciones antes de la fecha límite tendrán sus acciones subyacentes de Millicom vendidas por SEB, con los ingresos distribuidos en SEK de manera prorrateada, menos los costos y tarifas aplicables. La duración del proceso de venta dependerá de las restricciones diarias de negociación y del volumen total de SDR restantes.
밀리콤 (Tigo)은 스웨덴 예탁 증서(SDR)의 상장 폐지를 위해 나스닥 스톡홀름으로부터 승인을 받았으며, 최종 거래일은 2025년 3월 17일로 설정되었습니다. 이 결정에 따라 SDR 보유자는 2025년 3월 19일 (CET 오후 3시)까지 미국 나스닥 증권 거래소에서 거래되는 보통주로 자신의 보유 지분을 전환해야 합니다.
마감일 이전에 보유 지분을 전환하지 않은 SDR 보유자는 SEB에 의해 밀리콤의 기초 주식이 판매되며, 수익금은 적용 가능한 비용 및 수수료를 제외하고 비례 배분된 SEK로 분배됩니다. 판매 과정의 소요 시간은 일일 거래 제한 및 남아 있는 SDR의 총량에 따라 달라질 것입니다.
Millicom (Tigo) a reçu l'approbation de Nasdaq Stockholm pour le retrait de ses Swedish Depository Receipts (SDRs), avec le dernier jour de négociation fixé au 17 mars 2025. Suite à cette décision, les détenteurs de SDR doivent convertir leurs avoirs en actions ordinaires cotées sur le marché boursier Nasdaq des États-Unis d'ici le 19 mars 2025 (15h00 CET).
Les détenteurs de SDR qui ne parviennent pas à convertir leurs avoirs avant la date limite verront leurs actions sous-jacentes de Millicom vendues par SEB, les produits étant distribués en SEK sur une base pro-rata, moins les coûts et frais applicables. La durée du processus de vente dépendra des restrictions de négociation quotidiennes et du volume total des SDR restant.
Millicom (Tigo) hat die Genehmigung von Nasdaq Stockholm für die Delistung seiner Swedish Depository Receipts (SDRs) erhalten, wobei der letzte Handelstag auf den 17. März 2025 festgelegt ist. Nach dieser Entscheidung müssen die Inhaber von SDR ihre Bestände bis zum 19. März 2025 (15:00 CET) in Stammaktien umwandeln, die an der US-Nasdaq-Börse gehandelt werden.
SDR-Inhaber, die ihre Bestände nicht vor der Frist umwandeln, werden ihre zugrunde liegenden Millicom-Aktien von SEB verkaufen lassen, wobei die Erlöse abzüglich der anfallenden Kosten und Gebühren pro-rata in SEK verteilt werden. Die Dauer des Verkaufsprozesses hängt von den täglichen Handelsbeschränkungen und dem Gesamtvolumen der verbleibenden SDRs ab.
- None.
- Forced conversion or liquidation of Swedish SDRs
- Reduced trading venue options for investors
- Additional costs and fees for holders who don't convert in time
Insights
Millicom's delisting from Nasdaq Stockholm represents a significant structural event that directly impacts its investor base and corporate strategy. The March 17, 2025 final trading date for Swedish Depository Receipts (SDRs) creates an immediate decision point for European shareholders who must either convert their holdings to US-listed shares by March 19 or have their positions automatically liquidated.
This consolidation to a single US listing has several investor implications. First, there's potential for temporary market dynamics as the deadline approaches - if significant numbers of SDR holders opt for cash settlement rather than navigating the conversion process, it could create short-term selling pressure. Second, forced conversions often incur transaction costs and potential tax consequences that investors should evaluate carefully.
From a strategic perspective, companies typically consolidate listings to reduce administrative costs and regulatory complexity while concentrating liquidity in a single venue. However, this move potentially sacrifices accessibility for Nordic investors who may face higher costs and complexity trading US securities.
SDR holders should note the mechanics of the forced conversion - failure to act by the deadline results in SEB selling shares at market prices with proceeds paid in SEK, introducing currency exchange variables. The timeframe for these sales remains undefined, creating additional uncertainty for passive holders.
Nasdaq Stockholm approved the delisting of Millicom (Tigo) SDRs and set the last day of trading on March 17, 2025
Luxembourg, March 3, 2025 – Millicom International Cellular S.A. (“Millicom” or the “Company”), today formally applied for delisting of its Swedish Depository Receipts (“SDRs”) from Nasdaq Stockholm. The delisting application was approved and Nasdaq Stockholm set the last day of trading (the “Delisting Effective Date”) on March 17, 2025.
Millicom reminds holders of SDRs that the delisting will result in the SDR program being terminated. To remain as shareholders of Millicom, SDR holders must convert1 their SDRs into common shares traded in Nasdaq Stock Market in the U.S. (“Millicom U.S. Shares”) by giving an instruction to SEB at the latest by March 19, 2025 (3.00 pm CET) (“Final Conversion Deadline”).
Following the termination of the SDR program, SEB is only able to transfer the underlying Millicom U.S. Shares to the former SDR holder if the SDR holder’s bank/broker has given SEB a complete conversion instruction before the Final Conversion Deadline. In the absence of a proper transfer/conversion instruction, SEB will sell the underlying Millicom U.S. Shares (the “Remaining SDRs”) and distribute the sale proceeds (in SEK) on a pro rata basis to the SDR-holders (with the deduction of reasonable costs, fees and taxes) pursuant to the SDR terms and conditions. The sale proceeds will be distributed only after all the Remaining SDRs are sold by SEB. Given restrictions in relation to the maximum amount of shares SEB is allowed to sell per day , and depending on the final amount of Remaining SDRs, it is not possible to currently say exactly how long such sales will take to complete. SEB intends to commence the sales of the Remaining SDRs as soon as practicable after the Final Conversion Deadline.
Key dates
| Action | Date |
| 8th conversion tranche | Monday March 10, 2025 (by 3pm CET) |
| Last day of trading / Delisting Effective date | Monday March 17, 2025 |
| Last day to submit FINAL transfer/conversion instructions | Wednesday March 19, 2025 (until 3pm CET) |
| SEB commences to sale the Remaining SDRs | As soon as practicable after the Final Conversion Deadline |
| Distribution of proceeds | As soon as practicable after all Remaining SDRs 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
1 i.e., withdraw the common shares underlying their SDRs, which we refer for convenience as the “conversion” of SDRs into Millicom U.S. Shares, pursuant to the SDR terms and conditions available in the Stock Information section of the website: https://ww2-cdn.tigocloud.net/Millicom_General_Terms_and_Conditions_SDR_Consolidated_2022_02a125e16d.pdf
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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 December 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
FAQ
When is the last day to trade Millicom (TIGO) SDRs on Nasdaq Stockholm?
What is the deadline for TIGO SDR holders to convert their shares to U.S. shares?
What happens to TIGO SDRs that are not converted by the deadline?
Where will Millicom (TIGO) shares continue to trade after the Stockholm delisting?
