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ESPOO - Nokia Oyj (NYSE:NOK) has repurchased its shares on Thursday as part of a buyback program announced on November 22, 2024, to mitigate the dilution effects of equity distributions to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives. The buyback, conducted under the EU Market Abuse Regulation and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024, began on November 25, 2024, and will conclude by December 31, 2025.
The program aims to acquire 150 million shares, with a total expenditure of up to 900 million euros. On Thursday, the company bought back 872,093 shares at a weighted average price of €4.53 per share, amounting to a total price of 3,950,494 euros. Following the recent transactions, Nokia now holds 235,158,898 of its own shares.
The buyback aligns with Nokia’s strategy as a B2B technology leader, leveraging its expertise in fixed, mobile, and cloud networks, and guided by the innovative work of Nokia Bell Labs. The company’s network solutions are designed to integrate seamlessly into various ecosystems, offering commercialization and scalability opportunities to service providers, enterprises, and partners globally.
Nokia’s commitment to performance, sustainability, and security standards in its network solutions has earned the trust of partners worldwide. The company continues to collaborate with these partners to develop digital services and applications for the future.
The details of the buyback transactions are attached to the press release statement from which this information is sourced.
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