Millicom's Strategic Share Repurchase Initiative Unveiled

Millicom's Share Repurchase Activity Explained

Millicom (TIGO) is dedicated to enhancing shareholder value through its recent share repurchase initiative. This program, which was announced earlier, aims to reinforce the company’s commitment to its investors while navigating through market dynamics.

Details of the Program

Recently, between January 6 and January 10, 2025, Millicom undertook a substantial repurchase of shares, acquiring a total of 400,821 Swedish Depository Receipts (SDRs) along with 146,632 common shares. This bold move is a clear sign that Millicom is actively working to return value to its shareholders amid fluctuating market conditions.

Breakdown of Share Purchases

During this period, the repurchase activity included various transactions on established stock exchanges like Nasdaq Stockholm and the Nasdaq Stock Market. Here’s a snapshot of the repurchased shares:

Trade Date: Multiple trades were executed on each day capturing different volumes of shares at varying prices. For instance:

• January 6, 2025: 36,700 shares purchased at an average price of 24.9620 SEK.
• January 7, 2025: 101,821 SDRs at 273.0227 SEK.
• January 8, 2025: 100,000 SDRs at an average of 277.3668 SEK.

Market Strategy and Shareholder Value

This focused repurchase activity allows Millicom to manage its capital effectively while supporting the market for its shares. As of January 10, 2025, the total treasury shares held by Millicom increased to 2,519,830. The overall number of outstanding shares in the company stood at 172,096,305. Such strategic movements indicate the company's proactive approach in fostering a stable and accessible investment landscape for its existing and potential shareholders.

Compliance and Transparency

The share repurchase initiative aligns with the regulatory frameworks, adhering significantly to Article 5 of the Market Abuse Regulation (MAR) and the Commission Delegated Regulation (EU) 2016/1052. These regulations ensure that repurchase strategies are conducted transparently and responsibly, thus safeguarding the interests of all stakeholders.

About Millicom

Founded in 1990, Millicom is recognized as a premier provider of mobile and fixed telecommunications services in Latin America. Operating under the TIGO® and Tigo Business® brands, the company offers a broad spectrum of digital services that include mobile financial services, entertainment options, and comprehensive business solutions. Equipped with a robust infrastructure, Millicom serves over 46 million customers, illustrating its expansive reach within the region.

Conclusion

In conclusion, Millicom (NASDAQ: TIGO) is not just about delivering telecommunications services; it’s about enhancing its shareholder value through strategic initiatives like this repurchase program. This move will likely fortify their position within the market while meeting the interests of investors effectively.

Frequently Asked Questions

What is the purpose behind Millicom's share repurchase program?

The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares, thus potentially increasing earnings per share.

How many shares did Millicom repurchase between January 6 and January 10, 2025?

Millicom repurchased a total of 400,821 Swedish Depository Receipts (SDRs) and 146,632 common shares during this period.

Which stock markets were involved in the share repurchase?

The share repurchase transactions were executed on Nasdaq Stockholm and the Nasdaq Stock Market.

Who manages the repurchase process for Millicom?

Citigroup Global Markets Limited and Citigroup Global Markets Inc. manage the repurchase process on behalf of Millicom.

How does Millicom's repurchase program ensure compliance?

The program operates within the provisions set out by Article 5 of MAR and the Commission Delegated Regulation No 2016/1052, ensuring transparency and adherence to market regulations.

About The Author

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