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HELSINKI - Nokia Oyj (NYSE:NOK) has announced the repurchase of its own shares on Thursday, as part of a buyback program initiated to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives. The transactions, conducted on January 23, involved the acquisition of 872,093 shares at a weighted average price of €4.48 per share, totaling approximately €3.9 million.
The buyback program, which commenced on November 25, 2024, following an authorization by Nokia's Annual General Meeting on April 3, 2024, aims to acquire up to 150 million shares with a maximum expenditure of €900 million. The program is scheduled to conclude by December 31, 2025, at the latest.
Following the latest transactions, Nokia now holds 230,798,433 of its own shares. The company's buyback initiative aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
This share repurchase is part of Nokia's ongoing strategy to adjust its capital structure and return value to shareholders. The company continues to focus on leading B2B technology innovations, leveraging its expertise in fixed, mobile, and cloud network solutions, and is guided by the research and development from the award-winning Nokia Bell Labs.
The information regarding the share buyback is based on a press release statement issued by Nokia Oyj. The detailed transactions attached to the press release are available upon request.
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