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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has reported the acquisition of 872,093 of its own shares on Tuesday, at a weighted average price of €4.38 per share. This transaction forms part of the company's buyback program, initially announced on November 22, 2024, aimed at mitigating the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation.
The share repurchase program, which adheres to market abuse regulations, commenced on November 25, 2024, with an end date set for December 31, 2025. The program's objective is to buy back up to 150 million shares, with a maximum aggregate purchase price of €900 million.
Following the transaction on Tuesday, Nokia's treasury now holds 228,219,080 shares. The total cost for the shares acquired on that day amounted to €3,819,244.
The repurchase program is executed under the authorization given by Nokia’s Annual General Meeting on April 3, 2024, and is in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052.
This strategic move is part of Nokia's broader efforts to manage its capital structure and to return value to shareholders. The company is known for its focus on innovation in technology, particularly in the development of networks that are capable of sensing, thinking, and acting, and its long-term research spearheaded by the Nokia Bell Labs.
Nokia's commitment to creating open architectures that integrate into various ecosystems has made it a trusted partner for service providers, enterprises, and technology partners around the world. The company continues to focus on delivering secure, reliable, and sustainable networks, while also exploring digital services and applications for the future.
The information for this report is based on a press release statement issued by Nokia Corporation.
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