ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) announced on Friday that it has repurchased 872,093 of its own shares at an average price of €4.31 per share. This transaction is part of the company's share buyback program, which was initiated to counteract the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives.
The buyback program, compliant with the Market Abuse Regulation and authorized by Nokia's Annual General Meeting on April 3, 2024, began on November 25, 2024, and is set to conclude by December 31, 2025. The program targets the repurchase of 150 million shares for a maximum aggregate purchase price of €900 million.
The total cost of the transactions carried out on January 3, 2025, amounted to €3,762,907. Following these transactions, Nokia Corporation now holds 222,986,522 treasury shares in total.
This move comes as part of Nokia's broader strategy to manage its capital structure and to return value to shareholders. The company is recognized for its role in advancing technology, with a focus on creating high-performance networks and engaging in long-term research through its Nokia Bell Labs.
The information reported is based on a press release statement from Nokia Corporation.
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