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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) reported on Thursday that it has repurchased 3,854,165 of its own shares at an average price of €4.84 per share. The total cost for these transactions, carried out across several trading venues, amounted to €18,653,002.
The buyback is part of a program announced on November 22, 2024, aimed at offsetting the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation and related share-based incentives. The program, authorized by Nokia’s Annual General Meeting on April 3, 2024, began on November 25, 2024, and is set to conclude by December 31, 2025. It targets the repurchase of 150 million shares for a maximum aggregate purchase price of €900 million.
Following the completion of the recent transactions, Nokia holds 149,315,265 treasury shares. This action aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia is a B2B technology leader focused on network innovation across mobile, fixed, and cloud networks. Celebrating 100 years of innovation, Nokia Bell Labs continues to drive the company’s research efforts. Nokia’s open architectures aim to integrate into any ecosystem, providing high-performance networks that support current demands and future digital services and applications.
The information provided in this article is based on a press release statement from Nokia Corporation.
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