ESPOO - Nokia Oyj (HEL:HE:NOKIA), the Finnish telecommunications company, has announced the acquisition of 872,093 of its own shares on January 15, 2025, at an average price of €4.45 per share. The total cost for these purchases amounted to €3,883,692. This move is part of a share buyback program initiated by Nokia's board to mitigate the dilutive impact of shares to be issued to Infinera (NASDAQ:INFN) Corporation shareholders and related to Infinera's stock-based incentives.
The share buyback program, which aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the delegated regulation (EU) 2016/1052, was set in motion on November 25, 2024, following the authorization granted by Nokia's Annual General Meeting on April 3, 2024. It is scheduled to run until December 31, 2025, at the latest. The program aims to acquire 150 million shares using a maximum of €900 million.
Following the recent transaction, Nokia now holds 229,091,173 of its own shares. The buyback program reflects the company's ongoing commitment to managing its capital structure and delivering value to its shareholders.
Nokia is a leader in B2B technology and innovation, pioneering future networks that are intelligent and responsive. The company's leadership is built on expertise in fixed, mobile, and cloud networks. With the support of Nokia Bell Labs, Nokia continues to drive value through intellectual property rights and sustained research and development efforts.
The company's high-performance network solutions, based on open architecture, integrate seamlessly into various ecosystems, enabling new opportunities for commercializing and scaling networks. Service providers, enterprises, and partners worldwide rely on Nokia for network performance, responsibility, and security standards. Nokia collaborates with partners to develop future digital services and applications.
The information in this article is based on a press release statement from Nokia Oyj.
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