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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 1.4 million of its own shares on Monday, in a move to counteract the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. The transaction took place on the Helsinki Stock Exchange (XHEL) with a weighted average price of 4.74 euros per share, totaling approximately 6.63 million euros.
This buyback is part of a broader program announced on November 22, 2024, which aims to acquire up to 150 million shares for a maximum aggregate purchase price of 900 million euros. The program, authorized by Nokia’s Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is slated to conclude by December 31, 2025.
Following the recent transactions, Nokia holds 259,917,814 treasury shares. The repurchase program is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory compliance.
Nokia, a leader in B2B technology innovation, is known for developing networks that are designed to be collaborative, intelligent, and responsive. The company focuses on mobile, fixed, and cloud networks, and emphasizes the creation of value through intellectual property and long-term research, notably by its Nokia Bell Labs. Nokia’s commitment to open architecture and high-performance networks aims to provide secure, reliable, and sustainable solutions that support the digital services and applications of tomorrow.
The information in this article is based on a press release statement from Nokia Corporation.
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