India, March 18 -- Nokia Oyj (NOK) announced on Monday the initiation of the first phase of its share buyback plan.
The company said that the total cost to purchase Nokia shares will not exceed EUR 300 million.
The buybacks are scheduled to commence no earlier than March 20, 2024, and conclude by December 18, 2024.
The primary aim of these repurchases is to enhance Nokia's capital structure by reducing capital.
This initiative is in line with the authorization granted by Nokia's Annual General Meeting on April 4, 2023.
The maximum amount of shares that can be repurchased in the first phase of the plan is set at 200 million shares, which is equivalent to around 4% of Nokia's total number of shares.
The shares will be bought through pub...