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ESPOO - Finnish telecommunications company Nokia Oyj (HEL:HE:NOKIA) reported on Monday that it has continued its share buyback program, purchasing 3,977,808 of its own shares at an average weighted price of €4.87 per share. The transaction, part of a broader effort to mitigate dilution from equity incentives related to its acquisition of Infinera (NASDAQ:INFN) Corporation, took place on the Helsinki Stock Exchange (XHEL) and other European trading venues.
The buyback initiative, which commenced on November 25, 2024, follows authorization by Nokia’s Board of Directors to counteract the dilutive effect of shares issued to Infinera shareholders and certain stock-based incentives. The program is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the mandate given by the Annual General Meeting on April 3, 2024.
Nokia’s objective is to acquire up to 150 million shares, allocating a maximum of €900 million to the buyback program, which is set to conclude by December 31, 2025. The total cost for the shares acquired on March 14, 2025, amounted to €19,391,018. Following these acquisitions, Nokia now holds 172,084,787 of its own shares.
The buyback program aligns with Nokia’s strategy as a B2B technology and innovation leader, focusing on future-ready networking solutions. With a century-long history of creating value through intellectual property rights and research led by the Nokia Bell Labs, the company emphasizes integration of its network solutions across various ecosystems, prioritizing performance, sustainability, and security standards.
This move comes as part of Nokia’s commitment to its partners and clients worldwide, as it continues to develop digital services and applications for the future. The details of the transactions carried out under the buyback program are included in the press release statement.
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