ESPOO - Nokia Oyj (HEL:HE:NOKIA) has reported the purchase of its own shares on Monday as part of an ongoing buyback program intended to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and for certain stock-based incentives. The transactions were executed on the Helsinki Stock Exchange (XHEL) with a total of 872,093 shares acquired at an average weighted price of €4.18 per share, amounting to a total cost of €3,645,000.
The buyback program, which was publicly announced on November 22, 2024, was authorized by the board of Nokia and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the mandate given by the annual general meeting on April 3, 2024. The program commenced on November 25, 2024, and is set to conclude by December 31, 2025, at the latest. The aim is to acquire up to 150 million shares, allocating a maximum of €900 million for the purchases.
Following the recent transactions, Nokia now holds a total of 210,777,220 of its own shares. The details of the purchases were provided as an annex to the press release statement.
Nokia, a leader in B2B technology and innovation, is recognized for its pioneering work in developing future networks that are sensing, thinking, and intelligent. The company's position is grounded in its expertise in fixed, mobile, and cloud network solutions, and it continues to create value through intellectual property rights and long-term R&D, led by the award-winning Nokia Bell Labs. Nokia's network solutions, based on open architecture, integrate seamlessly into various ecosystems, facilitating new opportunities for commercializing and scaling networks. Service providers, enterprises, and partners worldwide rely on Nokia's network performance, responsibility, and security standards.
This news is based on a press release statement from Nokia Oyj.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.