ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has acquired 872,093 of its own shares at an average price of €4.47 per share on Monday, as part of a buyback program meant to offset the dilutive effect of issuing new shares. The transactions were conducted on the trading venue XHEL and the total cost amounted to €3,898,081.
This buyback is a component of a larger program announced on November 22, 2024, which was initiated following Nokia's issuance of new shares to the shareholders of Infinera (NASDAQ:INFN) Corporation and related share-based incentives. The program, which began on November 25, 2024, is set to continue until December 31, 2025. It aims to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million.
The share repurchase program is conducted in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Following the recent transactions, Nokia Corporation holds a total of 223,858,615 treasury shares. The company's approach to managing its capital structure reflects its commitment to maintaining a strong balance sheet and creating shareholder value.
Nokia is recognized as a B2B technology innovation leader, creating networks that are designed to be adaptive, intelligent, and secure. The company's networks are built to support the digital services and applications of the future, catering to service providers, enterprises, and partners worldwide.
This news is based on a press release statement from Nokia Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.