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ESPOO, Finland – Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a significant repurchase of its own shares on Monday, as part of an ongoing effort to offset the dilutive impact of a recent acquisition. The Finnish telecommunications company acquired a total of 4,174,747 shares across several European trading venues at a weighted average price of €4.82 per share.
The transactions are part of a share buyback program initiated by Nokia’s Board of Directors following the issuance of new Nokia shares to shareholders of Infinera (NASDAQ:INFN) Corporation and related to Infinera share-based incentives. The program, which began on November 25, 2024, aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million by December 31, 2025.
The buyback on Monday involved purchases on the XHEL and CEUX trading venues, among others, with the total cost for the day’s transactions amounting to €20,131,882. Following these transactions, Nokia holds 213,560,284 treasury shares.
Nokia’s share buyback 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 at the company’s Annual General Meeting on April 3, 2024.
Nokia is a leader in the B2B technology sector, known for its innovative network solutions and long-term research, including the contributions from the Nokia Bell Labs. The company strives to deliver secure, reliable, and sustainable networks, and is trusted by service providers, enterprises, and partners around the globe.
The information regarding Nokia’s share repurchase was based on a press release statement from the company.
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