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ESPOO - Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) reported on Friday that it has purchased 1.4 million of its own shares at an average price of €4.65 per share. This transaction, part of an ongoing buyback program, took place on the Helsinki Stock Exchange (XHEL) and involved a total expenditure of €6.51 million.
The buyback initiative, which began on November 25, 2024, is designed to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and the impact of certain stock-based incentives following a previous announcement on November 22, 2024. The program, authorized by Nokia’s Board of Directors and in compliance with market abuse regulations, aims to acquire up to 150 million shares, with a maximum spend of €900 million, and is set to conclude by December 31, 2025.
Following the latest acquisition, Nokia now holds 135,282,828 of its own shares. The company’s buyback program operates under the authorization granted by the Annual General Meeting on April 3, 2024, and in line with the Market Abuse Regulation (EU) 596/2014 (MAR) and the delegated regulation (EU) 2016/1052.
Nokia, a leader in B2B technology and innovation, has been at the forefront of developing intelligent network solutions for over a century. The company’s stature is built on its expertise in fixed, mobile, and cloud network technologies, as well as its valuable intellectual property managed by the award-winning Nokia Bell Labs.
This report is based on a press release statement and provides an overview of Nokia’s recent share buyback transaction.
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