ESPOO – Nokia Oyj (HEL:HE:NOKIA) announced on Thursday that it has continued its share buyback program by acquiring 872,093 of its own shares at a weighted average price of €4.35 per share. This transaction is part of a broader initiative that Nokia's Board of Directors initiated on November 22, 2024, to mitigate the dilution effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related to certain stock-based incentives of Infinera Corporation.
The buyback program, compliant with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia's goal is to repurchase 150 million shares, allocating a maximum total amount of €900 million for this purpose.
The total cost of the share purchases made on January 16, 2025, amounts to €3,795,610. Following these transactions, Nokia now holds 229,963,266 of its own shares.
The buyback program reflects Nokia's strategy to manage its capital structure and return value to shareholders. The initiative is executed within the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
Nokia is a global technology leader focused on creating connectivity solutions that enable the world to act together. The company is at the forefront of developing intelligent network solutions that are critical for future sensing, thinking, and connected technologies. With its expertise in fixed, mobile, and cloud network solutions, Nokia continues to be a pioneer in the industry, supported by its valuable intellectual property rights and the innovative work of the renowned Nokia Bell Labs.
The information regarding the share buyback is based on a press release statement issued by Nokia Oyj.
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