SECsense Logo

Millicom International Cellular S.A. Share Repurchase Report: Strategic Moves for Value

$TIGO
Form 6-K
Filed on: 2025-01-07
Source
Millicom International Cellular S.A. Share Repurchase Report: Strategic Moves for Value

Here are the key insights extracted from the financial report of Millicom International Cellular S.A. (Form 6-K):

Company Overview

  • Name: Millicom International Cellular S.A.
  • Location: 148-150, Boulevard de la Pétrusse, L-2330 Luxembourg.
  • Ticker Symbols: NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB.
  • Industry: Telecommunications, providing fixed and mobile services primarily in Latin America.

Share Repurchase Program

  • Announcement Date: November 29, 2024.
  • Purpose: To repurchase shares as part of a strategic financial management plan.

Recent Share Repurchase Activity

  1. December 16-20, 2024:
  • SDRs Repurchased: 455,000
  • Average Price Paid (SEK):
    • December 16: 270.5982 (105,000 SDRs)
    • December 18: 271.8625 (115,000 SDRs)
    • December 19: 269.9605 (115,000 SDRs)
    • December 20: 268.5334 (120,000 SDRs)
  • Total SDRs Held Post-Transaction: 1,724,640
  • Total Shares Outstanding: 172,096,305
  1. December 23-27, 2024:
  • SDRs Repurchased: 83,477
  • Average Price Paid (SEK):
    • December 23: 268.5452 (57,000 SDRs)
    • December 27: 270.4081 (26,477 SDRs)
  • Total SDRs Held Post-Transaction: 1,808,117
  1. December 30, 2024 - January 3, 2025:
  • SDRs Repurchased: 164,260
  • Average Price Paid (SEK):
    • December 30: 272.5115 (48,973 SDRs)
    • January 2: 266.3909 (45,765 SDRs)
    • January 3: 266.7494 (69,522 SDRs)
  • Total SDRs Held Post-Transaction: 1,972,377

Regulatory Compliance

  • The share repurchase program is being executed in compliance with Article 5 of the Market Abuse Regulation (MAR) and the Commission Delegated Regulation No 2016/1052 ("Safe Harbour Regulation").

Contact Information

  • Press Contact: Sofía Corral, Director Corporate Communications (press@millicom.com)
  • Investor Relations Contact: Michel Morin, VP Investor Relations (investors@millicom.com)

Company Highlights

  • As of September 30, 2024, Millicom employed approximately 15,000 people and served over 46 million customers across its telecommunications network.

Conclusion

The report outlines Millicom’s active share repurchase program indicating a strategic move to increase shareholder value. The program's compliance with regulations further underscores the company's commitment to transparency and proper governance in its financial practices.