ESPOO - Nokia Oyj (HE:NOKIA) (NYSE:NOK) has announced the purchase of 872,093 of its own shares on January 17, 2025, at a weighted average price of €4.39 per share. The transaction, part of an ongoing share buyback program, was conducted on the Helsinki Stock Exchange (XHEL).
This buyback initiative, which began on November 25, 2024, aims to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain share-based incentives related to Nokia's acquisition of Infinera. The program, authorized by Nokia's annual general meeting on April 3, 2024, and in line with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052, is set to conclude by December 31, 2025.
Nokia's board had previously announced on November 22, 2024, the plan to repurchase up to 150 million shares, with a maximum expenditure of €900 million. With the latest transaction, Nokia has now acquired shares totaling €3,826,308, increasing the company's treasury stock to 230,835,359 shares.
The buyback program reflects Nokia's commitment to managing its capital structure and delivering value to its shareholders. As a leader in B2B technology and innovation, Nokia continues to pioneer future-ready networking solutions that integrate seamlessly across various ecosystems, offering new commercialization and scaling opportunities for its global partners.
This report is based on a press release statement from Nokia Oyj.
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