ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has reported the purchase of 868,501 of its own shares on Monday, with transactions amounting to a total cost of EUR 3,687,655. The shares were acquired at an average price of EUR 4.25 per share on the trading venue XHEL.
This move is part of Nokia's share buyback program announced on November 22, 2024, which was initiated by the Board of Directors to mitigate the dilutive effect of newly issued Nokia shares. These shares were distributed to the shareholders of Infinera (NASDAQ:INFN) Corporation and to satisfy certain Infinera share-based incentives.
The share repurchase program commenced on November 25, 2024, and is scheduled to continue until December 31, 2025. Nokia aims to repurchase up to 150 million shares, allocating a maximum aggregate purchase price of EUR 900 million for the program.
Following the latest transactions, Nokia now holds 219,494,558 treasury shares. The repurchases are conducted in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia is a global leader in B2B technology innovations, focusing on creating networks that are designed to be adaptive and scalable. The company is recognized for its contributions to mobile, fixed, and cloud networks, as well as its commitment to long-term research through the renowned Nokia Bell Labs.
The information provided is based on a press release statement from Nokia Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.