ESPOO – Nokia Oyj (HEL:HE:NOKIA) has reported the acquisition of its own shares on Thursday as part of an ongoing buyback program aimed at mitigating the dilutive effect of stock compensation for Infinera (NASDAQ:INFN) Corporation shareholders. The Finnish telecommunications company, known for its B2B technology and innovation leadership, purchased a total of 872,093 shares at a weighted average price of €4.23 per share.
This buyback is part of a larger scheme announced on November 22, 2024, authorized by the company's Board of Directors to offset the dilutive impact of equity incentives issued to Infinera's shareholders. The program, which commenced on November 25, 2024, is set to conclude by December 31, 2025, with the goal of acquiring 150 million shares for a maximum total expenditure of €900 million.
The transactions carried out on December 19, 2024, amounted to €3,688,169. Following these purchases, Nokia now holds 217,753,964 of its own shares. The buyback program adheres to the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and is executed within the mandate granted by Nokia's Annual General Meeting on April 3, 2024.
Nokia's leadership in fixed, mobile, and cloud network solutions is underpinned by its extensive expertise and the pioneering work of the award-winning Nokia Bell Labs. The company's commitment to performance, sustainability, and security standards in network technology has earned the trust of service providers, enterprises, and partners worldwide.
The details of the share acquisitions have been provided as an annex to the press release statement. This move by Nokia is part of its broader strategy to strengthen its market position and deliver value to its stakeholders.
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