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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has repurchased 3,855,706 of its own shares on Thursday, with a weighted average price of €4.92 per share, as part of its ongoing buyback program. This move is aimed at reducing the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation.
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 began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia’s objective is to repurchase 150 million shares, capping the total expenditure at €900 million.
On the trading day, transactions were carried out across several trading venues, with the majority of shares, 2,426,192, being traded on XHEL. The total cost for the day’s transactions amounted to €18,957,735.
Following the transactions, Nokia’s treasury now holds 186,100,767 shares. This repurchase activity is in line with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia, a B2B technology innovation leader, is known for developing networks with the capacity to sense, think, and act. The company’s commitment to open architectures allows for seamless integration into various ecosystems, offering high-performance networks that enable new opportunities for monetization and scalability.
Service providers, enterprises, and partners globally rely on Nokia for secure, reliable, and sustainable networks. The company also places a strong emphasis on intellectual property and long-term research, with Nokia Bell Labs at the forefront of its innovation efforts.
This repurchase initiative is based on a press release statement issued by Nokia Corporation.
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