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ESPOO - Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) announced Monday that it has acquired 3,795,042 of its own shares (ISIN FI0009000681) at a weighted average price of €4.93 per share. The buyback, conducted on various marketplaces including XHEL, CEUX, and TQEX, cost a total of €18,703,105.
This move is part of a share repurchase program initiated on November 25, 2024, following the announcement on November 22, 2024, to mitigate the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives of Infinera Corporation. The program, which adheres to the Market Abuse Regulation (EU) 596/2014 (MAR) and the European Commission’s Delegated Regulation (EU) 2016/1052, as well as the authorization granted by Nokia’s Annual General Meeting on April 3, 2024, aims to acquire up to 150 million shares with a maximum total expenditure of €900 million by December 31, 2025.
Following the latest transactions, Nokia Oyj now holds 194,123,580 of its own shares. The share repurchase program is a strategic effort to manage the company’s capital structure and to return value to shareholders.
Nokia, a leader in B2B technology and innovation, has a legacy of over 100 years in developing network solutions that are at the forefront of sensing, thinking, and intelligent technologies. The company’s commitment to performance, responsibility, and security standards in its network solutions is trusted by service providers, enterprises, and partners worldwide.
The details of the share buybacks are attached to the press release statement. The repurchase program is executed by BofA Securities Europe SA on behalf of Nokia Oyj.
This news article is based on a press release statement.
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