From the past week, we highlight: 1) we lowered our target price in Investor to SEK320 following a 9% write-down of Patricia Industries in its Q1 report; 2) we reduced our target price in Kinnevik to SEK100 to reflect macroeconomic headwinds, but remain positive ahead of Cristina Stenbeck’s return as chair; 3) we cut our VEF target price to SEK2.5 on FX movements and see re-rating potential from e.g. ongoing buybacks; and 4) we lowered our target price in Flerie to SEK57 given worsening funding ...
SEB informs Millicom (Tigo) it has completed the sale of shares SEB informs Millicom (Tigo) it has completed the sale of shares Luxembourg, April 23, 2025 – Millicom International Cellular S.A. (“Millicom”) completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm on March 17, 2025, resulting in the Nasdaq Stock Market in the United States being the sole exchange where its common shares are listed. SEB, the SDR program custodian bank, informed Millicom today that it has completed the sale of approximately 5,110,103 shares underlying the SDRs that had not been...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Convening Notice for Annual General Meeting and Extraordinary General Meeting of Shareholders Convening Notice for Annual General Meeting and Extraordinary General Meeting of Shareholders MILLICOM INTERNATIONAL CELLULAR S.A.Registered Address:148-150, Boulevard de la Pétrusse L-2330, Grand Duchy of Luxembourg– R.C.S. Luxembourg: B40630 – I. NOTICE The annual general meeting (“AGM”) and subsequent extraordinary general meeting (“EGM”) of the shareholders of MILLICOM INTERNATIONAL CELLULAR S.A. (“Millicom” or the “Company”) is hereby convened to be held at Novote...
From the past week, we highlight: 1) we are encouraged by the return of Cristina Stenbeck as chair of Kinnevik, and believe it could result in a lower discount to NAV; 2) VEF completed a milestone partial exit of Juspay at a 37% IRR, putting it on track to pay down debt and repurchase shares at a 50% discount to NAV in the near term; and 3) for Industrivärden, we recently reiterated our HOLD and lowered our target price to SEK345 (400), as we see risk to the earnings outlook of its portfolio com...
Millicom (Tigo) releases its 2024 Annual Report, marking a year of transformation in Latin America’s telecommunications industry Millicom (Tigo) releases its 2024 Annual Report, marking a year of transformation in Latin America’s telecommunications industry Luxembourg, April 08, 2025 –Millicom, a leading provider of fixed and mobile services in Latin America, announces today the release of its 2024 Annual Report, which includes the standalone financial statements of Millicom International Cellular S.A. for the year 2024. This year’s report reflects a period of profound transformation for...
From the past week, we highlight: 1) we expect FX and multiples headwinds to weigh heavily on Kinnevik’s Q1 report; 2) VEF’s NAV looks set to grow by low single digits QOQ in USD terms; and 3) Industrivärden is due to report Q1 results next week, ahead of which we highlight a more attractive near-term investment story in its main owner Lundbergs.
From the past week, we highlight: 1) with Q1 coming to a close, we highlight valuation trends YTD for Investor, Kinnevik and Latour; 2) Klarna’s prospective IPO would have both direct and indirect effects on Swedish investment companies; and 3) Flerie is set to take Toleranzia private in an all-shares deal.
Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program Luxembourg, March 24, 2025 – Millicom International Cellular S.A. (“Millicom”), has completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm, in line with previous communications. The last day of trading was March 17, 2025. As of March 24, 2025...
Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Luxembourg, March 20, 2025 – International Cellular S.A. ("Millicom") announces that, on March 17, 2025, Atlas S.A.S. (”Atlas”) a person closely associated (”PCA”) with Jules Niel, a member of Millicom’s Board of Directors, informed that it acquired 344,797 Millicom Swedish Depository Receipts (SDRs) in Nasdaq Stockholm (the “Acquisition”) at an average price of SEK 299.77 per SDR. The Acquisition by Atla...
From the past week, we highlight: 1) Investor-owned Advanced Instruments agreed to acquire Nova Biomedical for USD2.2bn, creating Investor’s second-largest unlisted holding; 2) Svolder reported Q2 2024/25 NAV up 10% QOQ, outperforming the CSRX at 5%; 3) we see 24% NTM NAV growth potential in Bure’s portfolio; and 4) VNV further postponed its proposed USD83m sale of Gett.
Millicom’s Nomination Committee’s proposal for Board of Directors Millicom’s Nomination Committee’s proposal for Board of Directors Luxembourg, March 17, 2025 – In advance of the Annual General Meeting of shareholders (“AGM”) of Millicom International Cellular S.A. (“Millicom”), to be held on May 21, 2025, Millicom’s Nomination Committee proposes: The election of Pierre-Alain Allemand as new member of the Board of Directors; The re-election of Maxime Lombardini, Jules Niel, Pierre-Emmanuel Durand, María Teresa Arnal, Bruce Churchill, Blanca Treviño de Vega and Justine Dimovic as ...
Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Luxembourg, March 17, 2025 – International Cellular S.A. ("Millicom") announces that, on March 14, 2025, Atlas S.A.S. (”Atlas”) a person closely associated (”PCA”) with Jules Niel, a member of Millicom’s Board of Directors, informed that it acquired Millicom Swedish Depository Receipts (SDRs)in Nasdaq Stockholm as follows (the “Acquisition”): Date Price per unit Volume (units) 11 March 2025 299.23 SE...
Millicom (Tigo) share repurchase activity Millicom (Tigo) share repurchase activity Luxembourg, March 17, 2025 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 315,930 of its Swedish Depository Receipts (SDRs) and 736,800 of its common shares between March 10, 2025, and March 14, 2025, as detailed in the table below. Exchange Nasdaq Stockholm Nasdaq Stock Market Trade Date Number of SDRs repurchased Average price paid* (SEK) Repurchase amount* (SEK) Number of shares repurchased Average price paid* (USD) Repurchase amount* (USD) 20...
From the past week, we highlight: 1) the Wallenberg sphere announced new roles for members of the sixth generation, including on the board of Investor; 2) following serial acquirer Röko’s IPO this week, we highlight the attractive valuation of Latour’s unlisted assets; and 3) as the dividend season approaches, we note the seasonal contraction of NAV discounts.
Millicom (Tigo) and Telefonica sign definitive sale-purchase agreement in Colombia Millicom (Tigo) and Telefonica sign definitive sale-purchase agreement in Colombia Luxembourg, March 12, 2025 – Pursuant to the announcement on July 31, 2024, Millicom and Telefonica have entered into a definitive agreement for the acquisition by Millicom of Telefonica’s controlling 67.5% equity stake in Coltel, subject to closing conditions including regulatory approvals. Millicom has also agreed to offer to purchase the remaining 32.5% of Coltel equity owned by La Nación and other investors at the same pur...
Millicom (Tigo) share repurchase activity Millicom (Tigo) share repurchase activity Luxembourg, March 10, 2025 - Pursuant to the share repurchase program announced on November 29, 2024, Millicom repurchased 344,250 of its Swedish Depository Receipts (SDRs) and 434,700 of its common shares between February 28, 2025, and March 07, 2025, as detailed in the table below. Exchange Nasdaq Stockholm Nasdaq Stock Market Trade Date Number of SDRs repurchased Average price paid* (SEK) Repurchase amount* (SEK) Number of shares repurchased Average price paid* (USD) Rep...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
From the past week, we highlight: 1) we met with Investor, and note its rising SAAB exposure in light of increasing European defence spending; 2) Tiger Global led a USD75m funding round in Kinnevik-owned Mews at an undisclosed valuation; 3) VEF’s largest asset, Creditas, reported a solid Q4; and 4) Creades and Flat Capital made new investments.
Nasdaq Stockholm approved the delisting of Millicom (Tigo) SDRs and set the last day of trading on March 17, 2025 Nasdaq Stockholm approved the delisting of Millicom (Tigo) SDRs and set the last day of trading on March 17, 2025 Luxembourg, March 3, 2025 – Millicom International Cellular S.A. (“Millicom” or the “Company”), today formally applied for delisting of its Swedish Depository Receipts (“SDRs”) from Nasdaq Stockholm. The delisting application was approved and Nasdaq Stockholm set the last day of trading (the “Delisting Effective Date”) on March 17, 2025. Millicom reminds holders...
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