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Millicom International Cellular S.A. (TIGO) is a prominent telecommunications company based in Luxembourg, specializing in providing fixed line and mobile services. Operating under the Tigo brand, Millicom has a significant presence in emerging markets across Latin America. The company delivers a range of telecom services including wireless and fixed-line solutions in countries such as Bolivia, Nicaragua, Panama, El Salvador, Guatemala, Paraguay, Colombia, Costa Rica, and Honduras. Notably, Millicom owns 100% of its operations in most of these countries, with a 50% stake in Colombia and 67% in Honduras.
Millicom's robust infrastructure supports comprehensive telecommunications services for millions. Its fixed-line networks reach approximately 13 million homes, while its wireless networks cover about 120 million people. The company is known for providing converged packages that can include fixed-line phone services, broadband, and pay television, along with its wireless offerings. This integrated approach allows Millicom to meet diverse consumer needs in less developed regions.
In 2024, Millicom plans to carve out its infrastructure assets and mobile financial services business, aiming to optimize its operations and enhance shareholder value. The company's focus on emerging markets and its strategic initiatives reflect its commitment to growth and adaptation in a rapidly evolving industry.
Recent developments include a share repurchase activity, which indicates the company’s confidence in its financial health and future prospects. This move is expected to provide value to shareholders and demonstrates Millicom’s proactive approach to managing its equity base.
Millicom’s financial performance and strategic initiatives are continually tracked and updated through various channels, ensuring stakeholders have access to the latest information on the company’s performance and market activities.
Millicom announced the repurchase of 122,612 Swedish Depository Receipts (SDRs) from September 16 to 22, 2021, under its buyback program initiated on July 29, 2021. The total shares repurchased under this program now stand at 739,438, with a current treasury stock of 915,037 shares. The repurchase program allows for up to SEK 870 million or 5 million SDRs. All transactions were conducted on Nasdaq Stockholm by Citigroup Global Markets Limited.
Millicom has announced the results of its Exchange Offer for 6.625% Senior Notes due 2026, revealing an oversubscription of the offer. As of September 21, 2021, holders tendered US$335.7 million of the old notes, leading the company to increase the maximum acceptance amount to accept all valid tenders. The company will issue approximately US$307.5 million in new notes on September 24, 2021. Holders of old notes will receive cash for any fractions and accrued interest. The offering targets qualified institutional buyers, with a cautionary note on trading risks post-offer.
Millicom announced the repurchase of 131,559 Swedish Depository Receipts (SDRs) from September 9 to 15, 2021. This activity is part of a buyback program initiated on July 29, 2021, reinforcing Millicom's commitment to enhancing shareholder value. The maximum repurchase limit is set at either SEK 870 million (approximately USD 100 million) or 5 million SDRs. As of September 15, 2021, Millicom holds 792,425 treasury shares out of a total of 101,739,217 outstanding shares.
Millicom announced the repurchase of 84,200 shares during the period from September 2 to September 8, 2021, under a program initiated on July 29, 2021. The total value of the repurchased shares amounted to approximately SEK 27.9 million, with an average repurchase price of SEK 326.45. As of September 8, 2021, Millicom holds 660,866 treasury shares out of 101,739,217 outstanding. The repurchase aligns with Article 5 of MAR and is capped at SEK 870 million or 5 million SDRs.
Millicom International Cellular has announced a bond exchange offer to exchange up to $335 million of its 6.625% Senior Notes due 2026 for newly issued 4.500% Senior Notes due 2031. The aim is to refinance existing debt and extend the maturity profile while reducing cash costs. The Exchange Offer expires on October 5, 2021, with an early participation date set for September 21, 2021. Eligible holders must comply with specific guidelines, as outlined in the offering memorandum.
Millicom announced the repurchase of 75,529 Swedish Depository Receipts (SDRs) from August 26 to September 1, 2021, as part of its ongoing repurchase program initiated on July 29, 2021. The program aims to enhance shareholder value, with a maximum repurchase cap of SEK 870 million (approx. USD 100 million) or 5 million SDRs. Following these transactions, Millicom holds 576,666 treasury shares out of a total of 101,739,217 shares outstanding, reflecting the company's commitment to returning capital to shareholders.
Millicom announced the repurchase of 100,692 Swedish Depository Receipts (SDRs) between August 19 and August 25, 2021. The total repurchase program, initiated on July 29, 2021, allows for up to SEK 870 million (approximately USD 100 million) in purchases or a maximum of 5 million SDRs. As of August 25, 2021, Millicom holds 501,137 treasury shares from a total of 101,739,217 shares outstanding. The transactions were executed on Nasdaq Stockholm by Citigroup Global Markets Limited.
Millicom announced the repurchase of 90,437 Swedish Depository Receipts (SDRs) between August 12 and August 18, 2021, as part of its ongoing buyback program. This program, initiated on July 29, 2021, limits repurchases to a maximum of SEK 870 million (around USD 100 million) or up to 5,000,000 SDRs. Following these transactions, Millicom holds a total of 403,401 treasury shares out of 101,739,217 total shares. The buyback aims to enhance shareholder value.
Millicom announced the repurchase of 81,309 shares from August 5 to August 11, 2021, as part of a program initiated on July 29, 2021. The total value of shares repurchased during this period was approximately SEK 27,826,520.21. Post-purchases, Millicom holds 312,964 treasury shares, out of 101,739,217 shares outstanding. The repurchase program allows for up to SEK 870 million (around USD 100 million) or 5 million SDRs. This initiative aims to enhance shareholder value and confidence in future growth.
Millicom announced the repurchase of 53,100 Swedish Depository Receipts (SDRs) from August 2 to August 4, 2021, as part of a buyback program launched on July 29, 2021. The weighted average prices for the shares ranged from SEK 342.43 to SEK 345.47. The total repurchase program allows for purchases up to SEK 870 million (approximately USD 100 million) or 5,000,000 SDRs. Following these transactions, Millicom holds 231,655 treasury shares, with a total of 101,739,217 shares outstanding.
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