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Millicom (Tigo) reiterates intention to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm

1. Millicom plans to delist SDRs from Nasdaq Stockholm by March 2025. Single-exchange focus announced. 2. SDR holders must convert to Millicom U.S. Shares before the delisting. Process details provided online. 3. Consolidation aims to boost liquidity, access to capital, and reduce costs. Investor focus on Latin America grows.

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Why Bullish?

Consolidating listings to Nasdaq U.S. is expected to improve liquidity and attract new capital. Historical consolidations have often led to enhanced investor confidence and a positive price reaction.

How important is it?

The news directly addresses a major structural change in TIGO’s trading mechanism, likely influencing long-term investor sentiment and cost structure. Similar past moves in other companies have had significant impacts on market perception.

Why Long Term?

The operational and governance improvements from the listing consolidation will benefit fundamentals over time, rather than causing an immediate price jump.

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TIGO_SDB
February 20, 2025 09:51 ET  | Source: Millicom International Cellular S.A. Millicom (Tigo) reiterates intention to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm Luxembourg, February 20, 2025 – As previously communicated on November 29, 2024, Millicom International Cellular S.A. (“Millicom”) today reiterated that it intends to file a delisting application with Nasdaq Stockholm on March 3, 2025, which will result in the SDR program being terminated. The last day of trading for SDRs is estimated to be on or around March 17, 2025. The exact date will be decided by Nasdaq Stockholm upon approval of the delisting application. The Company anticipates that consolidating the listing of its shares onto one single exchange, the Nasdaq Stock Market in the United States (“Nasdaq U.S.”), will provide improved levels of liquidity to its shareholders, appropriate access to capital for Millicom, attract new investors focused on Latin America, potential inclusion on certain equity indices, a simplified corporate governance structure and a reduction in administrative costs. SDR holders who wish to remain as shareholders of Millicom must contact their financial institution in order to convert their SDRs into Millicom U.S. Shares prior to the SDR delisting. After the SDR delisting and as stipulated in the SDR program terms and conditions, the custodian bank (SEB) will sell the Millicom U.S. shares underlying any remaining SDRs, and proceeds (net of transaction costs, fees and taxes) will be distributed to SDR holders who failed to provide timely conversion instructions prior to the SDR delisting. Net cash proceeds will be distributed only after all shares have been sold. Further information on the delisting and conversions of SDRs into Millicom U.S. Shares is available in Millicom’s previous press releases and in a letter sent by Millicom to all directly registered holders of SDRs available on this link: 2024_12_16_Information_Letter_to_SDR_holders_bd3af1ff81_2ab74c41bf.pdf This information, plus some additional information, is also available on the “Nasdaq Stockholm Delisting & Interim Dividend” section of Millicom’s webpage: https://www.millicom.com/investors/Nasdaq_Stockholm_Delisting_and_Interim_Dividend -END- For further information, please contact About Millicom Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of September 30, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people, and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint of about 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

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