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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed a repurchase of its own shares on Monday, as part of a program to counteract the dilutive impact of issuing new shares. The company acquired a total of 3,793,803 shares across different trading venues, with the weighted average price per share at €4.76.
The buyback initiative, announced on November 22, 2024, is designed to mitigate the dilution from new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related incentive programs following a corporate action. Authorized by the Annual General Meeting on April 3, 2024, the share repurchase started on November 25, 2024, and is set to conclude by December 31, 2025. Nokia’s plan targets the repurchase of 150 million shares, allocating a maximum of €900 million for this purpose.
The transactions carried out on Monday resulted in a total expenditure of €18,043,327. Following these transactions, Nokia holds 142,405,206 treasury shares. This buyback is part of a broader strategy by Nokia to offset the dilutive effect of share-based incentives and maintain shareholder value.
Nokia, a leader in B2B technology innovation, focuses on developing networks that are capable of sensing, thinking, and acting. The company’s commitment to open architectures and high-performance networks aims to provide secure, reliable, and sustainable solutions. Service providers, enterprises, and partners globally rely on Nokia for their network needs and look to the company for the digital services and applications of tomorrow.
The information contained in this article is based on a press release statement from Nokia Corporation.
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