ESPOO - Nokia Oyj (HEL:HE:NOKIA) announced on December 17, 2024, that it has acquired 884,897 of its own shares at a weighted average price of €4.23 per share, under its ongoing share buyback program. The total cost of these repurchases amounted to €3,741,698. Following these transactions, Nokia now holds a total of 216,009,778 treasury shares.
The buyback initiative, which commenced on November 25, 2024, is part of a broader strategy to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and to address the impact of certain stock-based incentives related to Infinera Corporation. This program is in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and is authorized by Nokia's Annual General Meeting held on April 3, 2024.
Nokia's board of directors initially communicated the plan on November 22, 2024, outlining an objective to repurchase up to 150 million shares with a maximum total expenditure of €900 million. The program is scheduled to conclude by December 31, 2025, at the latest.
This latest share repurchase is part of Nokia's commitment to delivering value to its shareholders and reflects the company's confidence in its financial position. As a leader in B2B technology and innovation, Nokia continues to pioneer advanced network solutions that integrate seamlessly into various ecosystems, fostering opportunities for network commercialization and scalability.
Investors and stakeholders can view details of the share repurchases attached to the press release statement. Nokia remains focused on enhancing its networks' performance, sustainability, and security standards, working alongside global partners to develop future digital services and applications.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.