Stock market today: S&P 500 closer lower on fresh economic concerns
ESPOO, Finland – Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has repurchased 3,834,442 of its own shares on Tuesday, as part of an ongoing effort to offset the dilutive impact of a recent acquisition. The shares, traded under ISIN FI0009000681, were bought back at an average price of €4.94 per share, totaling approximately €18.9 million.
The transactions were conducted across several trading venues, with the majority of shares, 2,536,936, acquired through XHEL, and 1,127,528 and 169,978 shares bought on CEUX and TQEX, respectively. No shares were repurchased on BATE or AQEU.
This move is in line with the share buyback program announced by Nokia on November 22, 2024, following the issuance of new shares to shareholders of Infinera (NASDAQ:INFN) Corporation and for certain share-based incentives related to that deal. The program, which aims to repurchase 150 million shares for a maximum aggregate purchase price of €900 million, began on November 25, 2024, and is set to conclude by December 31, 2025.
Nokia’s share repurchase program is being conducted in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. Following the latest transactions, Nokia Corporation holds a total of 179,424,434 treasury shares.
The repurchase activity is part of Nokia’s broader strategy as a B2B technology innovation leader, focusing on pioneering network technologies that are secure, reliable, and sustainable. The company, known for its contributions to mobile, fixed, and cloud networks, also emphasizes the creation of value through intellectual property and long-term research conducted by the Nokia Bell Labs.
The information in this article is based on a press release statement from Nokia Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.