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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has repurchased 1,370,114 of its own shares at an average price of €4.72 per share, the company disclosed on Monday. The total cost of these transactions, conducted on the Helsinki Stock Exchange (XHEL), amounted to approximately €6.47 million.
This move is part of a broader share buyback initiative announced by Nokia on November 22, 2024. The program was established to mitigate the dilutive impact of issuing new shares to the shareholders of Infinera (NASDAQ:INFN) Corporation and to certain Infinera Corporation share-based incentives. The buyback strategy, which aligns with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, was authorized by Nokia’s Annual General Meeting on April 3, 2024. The plan is set to conclude by December 31, 2025, targeting the repurchase of 150 million shares for a maximum total spend of €900 million.
Following the latest transactions, Nokia’s treasury now holds 258,517,814 shares. The repurchase program is being executed by BofA Securities Europe SA on behalf of Nokia Corporation.
Nokia, a leader in B2B technology innovation, continues to focus on developing networks that are responsive, intelligent, and capable of autonomous action. The company’s efforts are bolstered by its research arm, Nokia Bell Labs, which boasts a century of innovation. Nokia’s commitment to creating open architecture networks is aimed at fostering monetization opportunities and scalability for service providers, enterprises, and partners globally.
This news is based on a press release statement from Nokia Corporation.
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