Breaking News: Nokia Corporation Buys Back Shares in Bold Move on 2024-12-18
Description: Nokia Corporation Stock Exchange Release 18 December 2024 at 22:30 EET
Nokia Corporation: Repurchase of own shares on 18.12.2024 Espoo, Finland – On 18 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 4.29 CEUX – – BATE – – AQEU – – TQEX – – Total 872,093 4.29 * 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.
How it Will Affect Me:
As a shareholder of Nokia Corporation, the buyback of shares could potentially lead to an increase in the value of the remaining shares in circulation. This move can also indicate increased confidence by the company in its own financial stability and future growth prospects.
How it Will Affect the World:
The decision by Nokia Corporation to repurchase its own shares can have a ripple effect on the global financial markets. It may instill confidence in other investors and encourage further investment in the company, contributing to overall market stability and growth.
Conclusion:
In conclusion, Nokia Corporation’s bold move to repurchase its own shares demonstrates the company’s strategic approach to managing its financial position and signaling confidence in its future prospects. This action not only has the potential to benefit shareholders but also has broader implications for the global financial landscape.
