The European telecommunications multinational Millicom, which provides services for cable television and telecommunications, based in Luxembourg, debuted on Wednesday on Nasdaq, one of the main stock exchanges in New York (United States), under the symbol Tigo.
The stock took off with a value of US $62.52 and at 11:00 a.m. it had reached US $66, a 2.33% since its release on the market.
“Enlisting our actions in the United States is a logical next step on our journey to transform Millicom by accelerating our cable expansion and focusing on Latin America, a region where most of our peers are on the US list, it is making it easier for the investors who buy and own our shares, and we hope that this will improve the liquidity of our stocks over time, “Mauricio Ramos, Millicom’s executive director, said from New York.
For his part, Tim Pennington, CFO of the company said they are excited about the possibility of reaching a wider group of potential shareholders.
“At the same time, we remain committed to maintaining our listing on Nasdaq Stockholm, where it is likely that many of our largest shareholders will continue to negotiate,” he added.
The conglomerate revealed that the name with which it was quoted on Nasdaq Stockholm will change from being MIC_SDB to being TIGO_SDB.
The multinational company has been taking strong actions in Latin America, not only with the expansion and positioning of the Tigo brand in the countries of the region, but also with investments. A few months ago, although the value of the transaction was not revealed, it acquired the majority stake in Cable Onda, Panama’s largest fixed-line and cable telecommunications provider.
According to the company’s executive director, Latin America already represents 95% of Millicom’s business. The goal is that this region will continue to consolidate with long-term investments.
The company said that the ringing bell not only represents the entrance of Tigo to the listing on the New York stock exchange, but it is also the “confirmation of continued growth and expansion in emerging markets contributing to its economy through the construction of digital highways to connect more people. ”
“We are clearly an investment vehicle for the development of Latin America, so that Latin America has digital highways and high-speed broadband for both home and business, we have no doubt,” added Ramos.
On the other hand, Marcelo Cataldo, president of TigoUne Colombia, said through his Twitter account: “Being in the Nasdaq stock market drives us to continue growing in the deployment of digital highways to connect more Colombians. This is a historic moment for our operation. “