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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has continued its share repurchase initiative, acquiring a total of 3,328,575 of its own shares on Monday. The transactions were conducted across several trading venues, with the weighted average price per share being €4.85.
The buyback, part of a program announced on November 22, 2024, aims to mitigate the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation and related share-based incentives. Authorized by the Annual General Meeting on April 3, 2024, and adhering to regulatory requirements, the program began on November 25, 2024, with a completion deadline of December 31, 2025. Nokia’s goal is to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million.
The total expenditure for the shares repurchased on the day was approximately €16.16 million. Following these transactions, Nokia holds 138,611,403 treasury shares in its possession.
The repurchase program is being executed within the parameters set by the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The detailed breakdown of the repurchase transactions has been made available by the company.
Nokia, recognized as a B2B technology innovation leader, focuses on developing networks with capabilities to sense, think, and act, leveraging its extensive experience in mobile, fixed, and cloud networks. The company also prides itself on its intellectual property and long-term research, notably from the Nokia Bell Labs, which is marking a century of innovation. Nokia’s open architecture networks are designed to seamlessly integrate into any ecosystem, offering service providers, enterprises, and partners secure, reliable, and sustainable network solutions.
The information reported here is based on a press release statement from Nokia Corporation.
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