ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed a repurchase of its own shares on Wednesday, as part of an ongoing program to mitigate the dilutive impact of share distributions connected to its acquisition of Infinera (NASDAQ:INFN) Corporation. The company acquired a total of 872,093 shares at a weighted average price of €4.45 per share, amounting to a total cost of approximately €3.88 million.
The buyback initiative, which began on November 25, 2024, follows the authorization by Nokia’s Annual General Meeting on April 3, 2024, and is in line with the Market Abuse Regulation and the Commission Delegated Regulation governing such transactions. The program aims to repurchase 150 million shares for a maximum aggregate purchase price of €900 million, with a deadline of December 31, 2025.
This strategic move comes after Nokia’s announcement on November 22, 2024, detailing the commencement of the share repurchase program. The program is designed to neutralize the potential dilutive effect of newly issued Nokia shares given to Infinera Corporation shareholders and as part of share-based incentives.
Following the transactions announced today, Nokia Corporation's treasury holds a total of 229,091,173 shares. The details of the transactions, including specific prices and volumes for each trade, were provided as an appendix to the company's announcement.
Nokia, a global leader in B2B technology innovation, is recognized for developing networks with capabilities to sense, think, and act. Leveraging its expertise across mobile, fixed, and cloud networks, Nokia is committed to pioneering sustainable and secure high-performance networks. The company, together with its award-winning Nokia Bell Labs, continues to focus on long-term research and intellectual property to drive future digital services and applications.
The information regarding the share repurchase is based on a press release statement issued by Nokia Corporation.
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