ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares, the company disclosed Thursday. The average price per share was €3.97, amounting to a total transaction cost of €3,465,349. This buyback is part of a broader program announced on November 22, which aims to offset the dilutive effect of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives.
The share buyback program commenced on Monday and is set to continue until December 31, 2025. Nokia plans to acquire up to 150 million shares with a maximum aggregate purchase price of €900 million. Following the transactions on Thursday, Nokia now holds 363,190,882 treasury shares.
The repurchase program aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, operating within the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
Nokia, known for its contributions to the technology sector, especially in networking, continues to focus on innovation through its work in mobile, fixed, and cloud networks. The company's efforts are supported by the research and development at Nokia Bell Labs. Nokia emphasizes creating technology that enables global collaboration and is trusted by service providers, enterprises, and partners worldwide for delivering secure and sustainable networks.
This share repurchase is a strategic financial decision by Nokia to manage its capital structure and share value. The information provided is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.