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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Thursday, part of a broader effort to offset dilution from a recent acquisition. The shares were bought back at an average price of €4.53 per share, totaling approximately €3.95 million.
The buyback is a component of a program that Nokia’s Board of Directors initiated following the issue of new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. This program, announced on November 22, 2024, is designed to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million.
The transactions, conducted on the Helsinki Stock Exchange (XHEL), are in line with regulatory requirements set by the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The authorization for the buyback was granted by Nokia’s Annual General Meeting on April 3, 2024, and the program runs until December 31, 2025.
Following the latest transactions, Nokia Corporation now holds a total of 235,158,898 treasury shares. The repurchase program is a strategic move by Nokia, a company recognized for its B2B technology innovations and networks that are designed to be open, high-performance, secure, and sustainable.
Nokia’s commitment to its stakeholders remains evident as it continues to manage its capital structure proactively. The share repurchase is based on a press release statement issued by the company.
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