Thursday witnessed Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) executing the latest phase of its share repurchase plan. The company acquired a total of 385,015 shares at an average weighted price of €3.99 per share. The transactions occurred across various marketplaces, with 340,000 shares bought on XHEL and 45,015 shares on CEUX. The total cost for these acquisitions on Thursday amounted to €1,534,824.
The share buyback initiative was announced on January 25, 2024, as a strategy to return up to €600 million to shareholders over a two-year period. The first phase of this program began on March 20, 2024. On July 19, 2024, Nokia decided to expedite the buyback process by increasing the number of shares to be repurchased within the year. This accelerated phase commenced on July 22, 2024, under the compliance of the Market Abuse Regulation (EU) 596/2014 (MAR), the European Commission's delegated regulation (EU) 2016/1052, and the authorization from Nokia's Annual General Meeting held on April 3, 2024. This phase is scheduled to conclude by December 31, 2024, with a total spending cap of €600 million for the year.
Following the recent transactions, Nokia now holds 209,702,510 of its own shares. The details of these acquisitions have been appended to the company's press release.
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