Millicom's Strategic Share Repurchase Program Overview
Understanding Millicom's Share Repurchase Activities
Millicom, known for its Tigo brand, has recently engaged in a proactive share repurchase program aimed at enhancing shareholder value.
In light of the announcement made on November 29, 2024, regarding its share repurchase initiative, Millicom successfully repurchased 455,000 Swedish Depository Receipts (SDRs) from December 16 to December 20, 2024.
Detailed Overview of Recent Repurchases
During the active trading days, Millicom executed several purchases of SDRs. The breakdown of these transactions is significant for investors interested in understanding how Millicom is managing its stock and maintaining market confidence.
Transaction Highlights
On December 16, a total of 105,000 SDRs were repurchased at an average price of 270.60 SEK, amounting to a total expense of approximately 28.41 million SEK. The subsequent transactions on December 18 and December 19 involved the acquisition of 115,000 SDRs each day, emphasizing a strategic approach to accumulating shares amidst market trends. The average prices for these days were 271.86 and 269.96 SEK, respectively.
Final Purchases and Impact
The final repurchase on December 20 involved 120,000 shares traded at an average price of 268.53 SEK, culminating in an investment of around 32.22 million SEK.
The Significance of the Repurchase Program
Millicom's commitment to its buyback program reflects its robust approach to capital management and dedication to continually providing value to shareholders. As of December 20, 2024, the company now holds a total of 1,724,640 treasury shares, with the overall number of outstanding shares standing at 172,096,305.
Market Compliance and Regulatory Framework
This initiative aligns with the provisions set forth in Article 5 of MAR and adheres to the Commission Delegated Regulation No 2016/1052, known as the Safe Harbour Regulation. This ensures that Millicom maintains a compliant and transparent share repurchase strategy, fostering trust among its investors.
Further Transparency on Transactions
For investors and analysts seeking additional information regarding the share buyback activities, updates and detailed transaction reports can be accessed on Nasdaq Stockholm's website.
Millicom: A Leader in Telecommunications
Founded in 1990 and headquartered in Luxembourg, Millicom (NASDAQ: TIGO) is a significant player in the telecommunications industry in Latin America. With its TIGO® and Tigo Business® offerings, the company continues to provide critical connections and digital services across the region.
As of the end of September 2024, Millicom had a robust workforce of approximately 15,000 employees dedicated to delivering high-quality mobile and fiber-cable services. Remarkably, the company also boasts a fiber-cable footprint that reaches about 14 million homes, servicing over 46 million customers, which highlights its expansive reach and capability in providing telecommunications solutions.
Contact Information for Investors and Media
For further inquiries, please reach out to:
Media Contact
Sofía Corral, Director Corporate Communications
press@millicom.com
Investor Relations
Michel Morin, VP Investor Relations
investors@millicom.com
Frequently Asked Questions
What is Millicom's recent share repurchase activity?
Millicom has recently repurchased 455,000 SDRs as part of its ongoing share repurchase program.
How many shares does Millicom currently hold in treasury?
As of December 20, 2024, Millicom holds 1,724,640 treasury shares.
What regulations govern Millicom's share repurchase program?
The program aligns with Article 5 of MAR and the Safe Harbour Regulation.
Where can I find more information about Millicom's transactions?
Details about all transactions are available on Nasdaq Stockholm's website.
What services does Millicom provide?
Millicom offers a wide range of telecommunications services including mobile, fiber-cable, and financial services under the TIGO brand.
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