ESPOO - Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has continued its share buyback program, acquiring a total of 872,093 shares at an average weighted price of €4.42 per share on Monday. This transaction forms part of a broader initiative announced on November 22, 2024, to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives.
The buyback program, which adheres to the Market Abuse Regulation (EU) 596/2014 (MAR) and the European Commission's delegated regulation (EU) 2016/1052, as well as the authorization granted by Nokia's Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025. The goal of the program is to acquire up to 150 million shares, with a maximum total expenditure of €900 million.
Following the latest acquisition, Nokia now holds 231,707,452 of its own shares. The total cost of the shares purchased on January 20, 2025, amounted to €3,858,052. Details of the transactions have been provided as an annex to the company's statement.
Nokia, a leader in B2B technology and innovation, is recognized for its pioneering role in developing future network solutions that are perceptive, cognitive, and intelligent. The company's leadership is rooted in its expertise in fixed, mobile, and cloud network technology, as well as its creation of value through intellectual property rights and sustained R&D efforts led by the acclaimed Nokia Bell Labs.
The company's high-performance network solutions, based on open architecture, seamlessly integrate into various ecosystems, enabling new opportunities for network commercialization and scaling. Service providers, enterprises, and other partners globally rely on Nokia's network performance, responsibility, and security standards.
This information is based on a press release statement from Nokia Oyj.
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