Partial Sale and Subscription of Rights by Millicom Executive
Millicom International Cellular S.A. announced a rights offering on May 18, 2022, with management support for full participation, except for one executive. On June 1, 2022, this executive sold 11,000 rights and subscribed for 43,233 rights to acquire additional shares. Millicom operates in the telecommunications sector, providing fixed and mobile services in Latin America, with a customer base of around 50 million and a fiber-cable footprint covering close to 13 million homes. The company continues to enhance its digital service offerings.
- Management's commitment to the rights offering indicates confidence in the company's direction.
- Executive participation in the rights offering potentially reflects positively on shareholder trust.
- The partial sale of rights by an executive may raise concerns about insider sentiment.
- Dependence on executive decisions for funding activities could imply potential vulnerabilities.
Partial Sale and Subscription of Rights by Millicom Executive
Luxembourg, June 3, 2022 – On May 18, 2022, Millicom International Cellular S.A. ("Millicom") announced the terms of its rights offering, including a statement of support from management that all members of the executive team had indicated that they planned to exercise their rights in full, except for one executive who had indicated an intention to partially exercise his rights.
On June 1, 2022, the executive sold 11,000 rights and subscribed for 43,233 rights to acquire additional shares.
Details of the sale are disclosed on Millicom’s website.
For further information, please contact
| Press: Yocasta Valdez, Sr. Manager Digital Media & Communications press@millicom.com | Investors: Michel Morin, VP Investor Relations Sarah Inmon, Director 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, 2022, Millicom employed approximately 20,000 people and provided mobile and fiber-cable services through its digital highways to around 50 million customers, with a fiber-cable footprint of close to 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
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