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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a significant repurchase of its own shares on Friday, as part of a broader initiative to counterbalance the dilutive impact of recent share distributions. The telecommunications company acquired a total of 3,977,808 shares across different trading venues, with the weighted average price per share set at €4.87.
This move is a continuation of the share buyback program announced on November 22, 2024, following the issuance of new shares to shareholders of Infinera (NASDAQ:INFN) Corporation and for certain share-based incentives. The program, which was authorized by Nokia’s Annual General Meeting on April 3, 2024, began on November 25, 2024, and is scheduled to end by December 31, 2025. It aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million.
The total expenditure for the transactions carried out on this day amounted to €19,391,018. Following these transactions, Nokia’s treasury now holds 172,084,787 of its own shares. The details of these transactions have been documented and appended to the company’s announcement.
Nokia’s buyback program is conducted under the compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. BofA Securities Europe SA executed the transactions on behalf of Nokia.
The company, known for its contributions to B2B technology and as a pioneer in networks that are responsive and adaptive, is celebrating a century of innovation through its Nokia Bell Labs. Nokia’s networks are designed to be open and integrate smoothly into various ecosystems, offering reliable and sustainable solutions for service providers, enterprises, and partners globally.
This strategic repurchase is part of Nokia’s commitment to manage its capital structure efficiently and to enhance shareholder value. The information for this article is based on a press release statement.
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