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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a significant share repurchase, acquiring 1.4 million of its own shares at an average price of €4.65 each on the Helsinki Stock Exchange (XHEL) on Monday. This transaction is part of a broader buyback program announced on November 22, 2024, designed to mitigate the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives related to the company.
The share buyback initiative, which complies with the Market Abuse Regulation (EU) and the Commission Delegated Regulation (EU), was authorized by Nokia’s Annual General Meeting on April 3, 2024. The program began on November 25, 2024, with an end date set for December 31, 2025. Nokia aims to repurchase up to 150 million shares, allocating a maximum of €900 million for the program.
With the latest transactions totaling €6,507,900, Nokia’s treasury now holds 135,282,828 shares. This strategic move aligns with Nokia’s ongoing efforts to optimize its capital structure and deliver shareholder value.
Nokia, a leader in B2B technology innovation, continues to develop advanced network technologies and drive digital transformation. The company is recognized for its contributions to mobile, fixed, and cloud networks, and its research arm, Nokia Bell Labs, has a storied history of 100 years in technological innovation.
The information regarding Nokia’s share repurchase is based on a press release statement from the company.
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