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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 1,317,492 of its own shares at an average price of €4.75 per share, the company announced on Monday. The transactions were conducted on the Helsinki Stock Exchange (XHEL) and are part of a buyback program aimed at offsetting the dilutive impact of issuing new shares for the acquisition of Infinera (NASDAQ:INFN) Corporation and related share-based incentives.
The share buyback program was announced on November 22, 2024, following the authorization by Nokia’s Annual General Meeting on April 3, 2024. The program, which complies with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia’s target is to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million.
The total expenditure for the share repurchases on February 24, 2025, amounted to €6,260,063. Following these transactions, Nokia Corporation holds a total of 257,147,700 treasury shares.
Nokia, a leader in B2B technology innovation, is known for developing networks that sense, think, and act, with a focus on mobile, fixed, and cloud networks. The company also invests in intellectual property and long-term research through the renowned Nokia Bell Labs, which celebrates a century of innovation. Nokia’s open architectures are designed to integrate seamlessly into any ecosystem, providing high-performance networks that enable new opportunities for monetization and scale. Service providers, enterprises, and partners across the globe rely on Nokia for secure, reliable, and sustainable networks.
The information in this article is based on a press release statement from Nokia Corporation.
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