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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed another phase of its share repurchase program, acquiring a total of 4,223,016 shares at an average price of €4.79 per share across several trading venues on Monday. This move is part of a broader buyback initiative announced on November 22, 2024, aimed at mitigating the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives.
The buyback program, which began on November 25, 2024, is authorized by Nokia’s Annual General Meeting held on April 3, 2024, and is in line with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052. It is set to continue until December 31, 2025, with a target to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million.
With the latest transactions totaling €20,243,872, Nokia now holds 168,106,979 treasury shares. The repurchases occurred on multiple exchanges, including XHEL, CEUX, AQEU, and TQEX, with no trades reported on BATE.
Nokia, a company recognized for its technology that enables global connectivity, is celebrating a century of innovation through its Nokia Bell Labs. The company focuses on creating networks that are capable of sensing, thinking, and acting, and it values open architectures that integrate seamlessly into any ecosystem. Nokia’s high-performance networks are designed to offer new opportunities for monetization and scalability, with a commitment to delivering secure, reliable, and sustainable networks.
The information on the share repurchase is based on a press release statement issued by Nokia Corporation.
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