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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a repurchase of its own shares on Wednesday, as part of its ongoing buyback program. The company acquired a total of 3,642,769 shares across several trading venues, with each share at a weighted average price of €4.70.
This transaction is a continuation of the share buyback initiative announced on November 22, 2024, which aims to mitigate the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation. The program, approved by Nokia’s Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025. The goal is to repurchase 150 million shares for a maximum aggregate price of €900 million.
The total investment for the shares repurchased on Wednesday amounted to €17,116,279. Following these transactions, Nokia Corporation’s treasury now holds 146,047,975 shares.
The repurchase plan is executed in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory compliance.
Nokia, known for its contributions to mobile, fixed, and cloud networks, continues to focus on innovation through its B2B technology offerings and the renowned research from Nokia Bell Labs. The company’s commitment to creating high-performance networks aims to provide secure and sustainable solutions for service providers, enterprises, and partners globally.
This share repurchase activity is based on a press release statement from Nokia Corporation.
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