Millicom's Strategic Share Repurchase Initiative
Millicom (NASDAQ: TIGO) continues to demonstrate its commitment to shareholder value through an effective share repurchase program. This initiative, initially announced in late 2024, highlights the company's proactive approach to reinforcing its position in the telecommunications market.
Recent Share Acquisitions
Between March 10 and March 14, 2025, Millicom repurchased a significant number of shares, totaling 315,930 Swedish Depository Receipts (SDRs) and 736,800 common shares. This strategic move signals the company’s confidence in its growth trajectory and long-term objectives. Each repurchase is executed carefully to enhance shareholder value and maintain market liquidity.
Detailed Transactions
On March 10, 2025, Millicom made its first purchase, acquiring 103,000 SDRs at an average price of SEK 295.3982, leading to a total expenditure of SEK 30,426,015. The following days saw continued activity with notable purchases on March 11 and 12, where the company acquired further SDRs and common shares, ensuring a steady build-up of treasury shares.
Impact on Shareholder Value
As of March 14, 2025, Millicom holds a total of 3,847,564 treasury shares, reflecting an overall share count of 172,096,305. This repurchase strategy aligns with regulatory guidelines, ensuring that all actions support regulatory compliance while prioritizing shareholder interests.
Company Overview and Market Position
Millicom, headquartered in Luxembourg, has grown into a prominent provider of fixed and mobile telecommunications services across Latin America. Under the TIGO® and Tigo Business® brands, the company offers an array of essential services, including mobile financial options provided through TIGO Money, local entertainment via TIGO Sports, and dedicated business solutions such as cloud and security services.
Operational Milestones
As of the end of 2024, Millicom, including its joint venture in Honduras, employed approximately 14,000 individuals and served over 46 million customers with expansive digital infrastructure, boasting a fiber-cable network that reaches over 14 million homes. This broad reach not only cements Millicom's place as a leader in telecommunications but also showcases its commitment to enhancing connectivity across the region.
Looking Forward
Moving forward, Millicom aims to continue leveraging its strong market position while executing strategies that support shareholder value, including future share repurchases. The company's forward-looking plans embody a mission to foster growth in digital services and expand its footprint across Latin America, ultimately driving sustained revenue and profitability for its investors.
Frequently Asked Questions
What is the purpose of Millicom's share repurchase program?
The share repurchase program is designed to enhance shareholder value and demonstrate the company's confidence in its ongoing operations.
How many shares has Millicom repurchased recently?
Recently, Millicom repurchased 315,930 Swedish Depository Receipts and 736,800 common shares between March 10 and March 14, 2025.
Where are Millicom's shares traded?
Millicom shares are traded on the Nasdaq Stock Market and Nasdaq Stockholm under the ticker symbols TIGO and TIGO_SDB respectively.
Who handles Millicom's share repurchases?
The share repurchases are conducted on Nasdaq Stockholm and the Nasdaq Stock Market by Citigroup Global Markets Limited and Citigroup Global Markets Inc. on behalf of Millicom.
What is the current status of Millicom's treasury shares?
As of March 14, 2025, Millicom holds a total of 3,847,564 treasury shares, in accordance with its repurchase strategy.
