KONE Oyj (HLSE:KNEBV) commences share repurchases on November 11, 2021, under the program mandated by the shareholders in the Annual General Meeting held on March 2, 2021. As per the mandate, the company is authorized to repurchase up to 52,930,000 treasury shares so that a maximum of 7,620,000 Class A shares and a maximum of 45,310,000 Class B shares may be repurchased, representing 10% of its issued shares. The authority will be valid until June 30, 2022. As of January 28, 2021, the total number of shares is 529,395,860 shares constituted of 76,208,712 Class A shares and 453,187,148 Class B shares. On November 10, 2021, the company announced a share repurchase program. Under the program, the company will repurchase 750,000 class B share for €50 million. The shares shall be repurchased to be used as a part of share-based incentive plans of KONE The share repurchase shall start on November 11, 2021, at the earliest and end by December 8, 2021, at the latest.