ESPOO – Nokia Oyj (HEL:HE:NOKIA) has purchased its own shares on November 27, 2024, as part of a buyback program aimed at mitigating the dilutive effect of stock distributed to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives related to the company. The buyback, conducted under European market abuse regulations and authorized by Nokia's annual general meeting on April 3, 2024, started on November 25, 2024, and will conclude by December 31, 2025.
The company's goal is to acquire 150 million shares, with a maximum total expenditure of 900 million euros. On the day in question, Nokia bought a total of 872,093 shares at a weighted average price of 3.98 euros per share, amounting to a total cost of 3,467,965 euros. Following these transactions, Nokia now holds 362,318,789 of its own shares.
This buyback is part of a broader strategy by Nokia to create value for its stakeholders and manage the company’s capital structure efficiently. The Finnish telecommunications company is recognized for its leadership in B2B technology and innovation, particularly in fixed, mobile, and cloud network solutions. Nokia's commitment to performance, sustainability, and security standards in network solutions is trusted by service providers, enterprises, and partners globally.
The details of the buyback transactions were included as an annex to the press release statement. This move reflects Nokia's ongoing efforts to shape the future of intelligent network solutions and digital services, backed by its esteemed research and development wing, Nokia Bell Labs. The company continues to emphasize the integration of its network solutions into diverse ecosystems, fostering new commercialization and scaling opportunities.
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