ESPOO – Nokia Oyj (HEL:HE:NOKIA) has announced the repurchase of its own shares on Tuesday, in a transaction that saw the company acquire 872,093 shares at a weighted average price of €4.18 per share. The total cost of the buyback on this day amounted to €3,648,750.
The buyback is part of a program initiated by Nokia's Board of Directors on November 22, 2024, aimed at mitigating the dilutive impact of shares to be issued to Infinera (NASDAQ:INFN) Corporation shareholders and in relation to certain stock-based incentives of Infinera Corporation. The program, which began on November 25, 2024, is set to conclude by December 31, 2025, at the latest. It targets the acquisition of 150 million shares, with a maximum total expenditure of €900 million.
Following the December 10 transactions, Nokia now holds 211,649,313 of its own shares. The repurchase program is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by the Nokia Annual General Meeting on April 3, 2024.
The company, a B2B technology and innovation leader, is recognized for its advanced network solutions across fixed, mobile, and cloud services. Nokia's position in the industry is built on its expertise and the value created through intellectual property rights, as well as its long-term research and development led by the award-winning Nokia Bell Labs.
This share buyback announcement is part of Nokia's ongoing strategy to manage its capital structure and return value to shareholders. The details of the transactions have been provided as an attachment to this press release statement.
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