Breaking News: Nokia Buys Back Its Own Shares in Strategic Move
Description:
Nokia CorporationStock Exchange Release5 December 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 05.12.2024 Espoo, Finland – On 5 December 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code) Number of shares Weighted average price / share, EUR* XHEL 872,093 4.04 CEUX – – BATE – – AQEU – – TQEX – – Total 872,093 4.04 * Rounded to two decimals On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.
Effect on Me:
This strategic move by Nokia to buy back its own shares can have a positive impact on individual investors like you. By reducing the number of outstanding shares, the company can increase the value of each share, potentially leading to an increase in stock prices. This could result in higher returns for shareholders, including you, if you own Nokia stock.
Effect on the World:
The buyback of Nokia shares can also have wider implications for the global market. This move may signal confidence in the company’s financial stability and growth prospects, which could attract more investors and positively impact the technology industry as a whole. Additionally, it could influence other companies to consider similar strategies to enhance shareholder value.
Conclusion:
In conclusion, Nokia’s decision to repurchase its own shares is a strategic move aimed at enhancing shareholder value and signaling confidence in the company’s future. This action not only has the potential to benefit individual investors like you but also has broader implications for the global market. It will be interesting to see how this move impacts Nokia’s performance in the coming months and how other companies may respond to this strategy.
