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ESPOO - Nokia Corporation (HEL:HE:NOKIA) has repurchased 1,384,423 of its own shares on Friday, at a weighted average price of €4.78 per share, part of a program to mitigate the dilution from a recent acquisition. The transactions, conducted on the Helsinki Stock Exchange (XHEL), totaled approximately €6.6 million.
The share buyback initiative follows Nokia’s announcement on November 22, 2024, that it would offset the dilution effects of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives. The program, which began on November 25, 2024, is set to conclude by December 31, 2025, with the goal of repurchasing up to 150 million shares for a maximum aggregate price of €900 million.
This move is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, under the authorization of Nokia’s Annual General Meeting on April 3, 2024. Following the latest transactions, Nokia holds 255,830,208 treasury shares.
Nokia, known for its contributions to mobile, fixed, and cloud networks, continues to focus on technology innovation, including the work of its Nokia Bell Labs division, which celebrates a century of innovation. The company aims to offer secure, reliable, and sustainable networks and is trusted by service providers, enterprises, and partners worldwide.
The repurchase aligns with Nokia’s strategy to create value for shareholders and maintain a robust capital structure. This information is based on a press release statement.
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