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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 3,137,458 of its own shares on Monday, the company announced, as part of its ongoing effort to offset the dilutive impact of issuing new shares. The transactions were conducted across several trading venues with a weighted average price of €4.82 per share, culminating in a total expenditure of approximately €15.1 million.
The buyback initiative, which began on November 25, 2024, follows the company’s announcement on November 22, 2024, detailing its plan to mitigate the dilution from new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives. The program is authorized by Nokia’s Board of Directors under the mandate from its Annual General Meeting held on April 3, 2024, and is in compliance with relevant EU market abuse regulations.
Nokia’s share repurchase plan is set to conclude by December 31, 2025, targeting the acquisition of 150 million shares for a maximum aggregate purchase price of €900 million. Following the latest transactions, Nokia Corporation holds a total of 156,195,971 treasury shares.
The repurchase program is part of Nokia’s broader strategy as a B2B technology innovation leader. The company, known for its pioneering networks that sense, think, and act, aims to leverage its work across mobile, fixed, and cloud networks. Nokia also focuses on creating value through intellectual property and long-term research, with its Nokia Bell Labs at the forefront of technological innovation.
The detailed transactions of the share repurchase have been provided as an appendix to the company’s announcement, with BofA Securities Europe SA executing the buybacks on behalf of Nokia Corporation.
This news is based on a press release statement from Nokia Corporation.
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