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ESPOO - Nokia Oyj (HEL:HE:NOKIA) has announced the purchase of its own shares on Monday as part of an ongoing buyback program. The company acquired a total of 3,137,458 shares at a weighted average price of €4.82 per share, amounting to a total expenditure of €15,126,940.
The buyback initiative, which commenced on November 25, 2024, follows the company’s November 22, 2024, announcement regarding its intention to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related stock-based incentives. The program is set to run until December 31, 2025, with the objective of acquiring 150 million shares using a maximum of €900 million.
As a result of the latest transaction, Nokia now holds 156,195,971 of its own shares. The buyback is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia, a leader in B2B technology and innovation, has been at the forefront of developing intelligent network solutions, combining its expertise in fixed, mobile, and cloud networks. The company has a century-long history of creating value through intellectual property rights and groundbreaking research and development, led by the award-winning Nokia Bell Labs.
The information disclosed in this report is based on a press release statement.
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