Millicom's Transition and End of SDR Trading: Key Insights
Millicom's Delisting from Nasdaq Stockholm
In a significant move, Millicom International Cellular S.A. is preparing to delist its Swedish Depository Receipts (SDRs) from Nasdaq Stockholm. Approved by the exchange, this decision marks a pivotal moment for the Company, initiating a timeline for the last day of trading.
Details on the Delisting Process
On the approved timeline, the last day for trading the SDRs is set. Those who hold SDRs will need to take action in order to retain their investments in the Company. It is essential for these holders to convert their SDRs into common shares listed in the U.S. by following specific steps.
Action Required from SDR Holders
The deadline for SDR holders to convert their holdings into Millicom U.S. Shares is critical. By abiding to these guidelines, shareholders can ensure their transition aligns with the Company’s requirements. The conversion must be completed by a designated date, after which actions will be taken to handle remaining SDRs.
Consequences of the Delisting
With the termination of the SDR program, holders must act promptly to avoid complications. Any delay or failure to submit the necessary instructions may result in automatic sales of their entire holdings, which could adversely affect the shareholders’ financial outcomes.
Key Dates to Remember
Millicom has laid out several key dates in this process, urging all stakeholders to stay informed:
- Conversion tranche deadline: SDR holders should complete their conversion instructions as per the timeline.
- Final trading day: This day marks the end of trading for SDRs, a decisive point for all involved.
- Final instruction submission: This date is critical for ensuring holders receive the correct shares.
Understanding the Future Operations
Millicom’s operational landscape will evolve as the delisting progresses. The Company remains committed to facilitating a smooth transition for SDR holders. Detailed instructions and support will be available to ensure all stakeholders are well-informed.
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) stands as a prominent player in Latin America’s telecommunications sector. With a diverse portfolio that includes not just mobile and fixed services but also financial solutions and entertainment, Millicom reaches millions of customers through its robust infrastructure.
Frequently Asked Questions
What is the reason behind Millicom's delisting from Nasdaq Stockholm?
The delisting is part of Millicom's strategic decision to streamline its operations and focus on its core markets.
When is the last day for trading SDRs?
The last day of trading for the SDRs is set before the final conversion deadline, which is crucial for investors.
What should SDR holders do to maintain their investments?
SDR holders need to convert their SDRs into Millicom U.S. Shares before the designated deadline to continue their investment in the Company.
How will the conversion process impact current shareholders?
If SDR holders successfully convert, they will be able to hold shares in Millicom on the U.S. market, securing their investments.
Where can I find more information about the delisting process?
Further information can be found in Millicom’s previous communications and updates provided directly to SDR holders.
About The Author
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