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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has conducted a repurchase of its own shares on Tuesday, as part of an ongoing program to offset the dilutive impact of new shares issued in connection with its acquisition of Infinera (NASDAQ:INFN) Corporation. The company acquired a total of 3,942,227 shares across several trading venues, with each share costing an average of €4.99.
This buyback initiative follows the announcement on November 22, 2024, by Nokia’s Board of Directors regarding a share repurchase program. The program, which began on November 25, 2024, is set to run until December 31, 2025, and aims to buy back up to 150 million shares for a maximum aggregate purchase price of €900 million.
The transactions on April 1 amounted to a total expenditure of €19,664,222. With these recent acquisitions, Nokia now holds 217,502,511 treasury shares.
The share repurchase program is carried out in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. It was authorized by Nokia’s Annual General Meeting on April 3, 2024.
Nokia is a B2B technology innovator and leader, developing networks that are designed to be adaptive and scalable. Celebrating 100 years of innovation, Nokia Bell Labs leads the company’s long-term research efforts, contributing to its intellectual property portfolio and fostering technological advancements.
The repurchase program is part of Nokia’s broader strategy to manage its capital structure and to return value to shareholders, following the strategic acquisition of Infinera Corporation. The company’s approach to creating open and high-performance networks is trusted by service providers, enterprises, and partners globally, positioning Nokia as a key player in the development of digital services and applications for the future.
This information is based on a press release statement issued by Nokia Corporation.
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