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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares at an average price of €4.32 per share, the company announced on Tuesday. The total cost of the transactions on January 28, 2025, amounted to approximately €3.76 million.
The buyback is part of a broader program that Nokia initiated on November 22, 2024, following its acquisition of Infinera (NASDAQ:INFN) Corporation. The program aims to mitigate the dilutive effect of issuing new shares to Infinera shareholders and to cover certain share-based incentives. Nokia’s Board of Directors had received authorization for the repurchase from the Annual General Meeting held on April 3, 2024.
The share buyback program, which aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, began on November 25, 2024. Nokia plans to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million, by the end of December 2025.
Following the recent transactions, Nokia Corporation holds a total of 233,414,712 treasury shares. The company’s ongoing efforts to optimize its capital structure come as it continues to position itself as a leader in B2B technology innovation, with a focus on developing networks that are capable of sensing, thinking, and acting.
Nokia’s commitment to creating value through intellectual property and long-term research is underscored by the work of the Nokia Bell Labs. The company emphasizes the importance of open architectures that integrate seamlessly into various ecosystems, aiming to provide secure, reliable, and sustainable networks.
The information regarding the repurchase of shares is based on a press release statement issued by Nokia Corporation.
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