Nokia Oyj's stock experienced a remarkable surge of 5.05% on Wednesday's pre-market session, following the company's announcement of a share buyback program aimed at offsetting the dilutive effect of new shares issued to Infinera Corporation shareholders and certain Infinera share-based incentives.
In an official stock exchange release, Nokia revealed that its Board of Directors initiated the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014. The repurchases, which commenced on November 25, 2024, and will continue until December 31, 2025, target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.
On February 19, 2025, Nokia acquired 1,396,657 of its own shares at a weighted average price of EUR 4.74 per share, amounting to a total cost of EUR 6,621,272. After the disclosed transactions, the company holds 253,189,663 treasury shares.
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