ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Monday at an average price of €4.42 per share, as part of its previously announced buyback program. This transaction is part of the company's effort to offset the dilutive effect of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives related to the acquisition.
The share buyback initiative, which was first disclosed on November 22, 2024, was authorized by Nokia's Annual General Meeting on April 3, 2024. The program commenced on November 25, 2024, with the aim of repurchasing up to 150 million shares for a maximum aggregate purchase price of €900 million, to be completed by December 31, 2025.
On the specified trading venue, the total expenditure for the shares bought back on Monday amounted to €3,858,052. With these transactions, Nokia now holds a total of 231,707,452 treasury shares.
The buyback program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory compliance.
Nokia is a global technology leader focused on creating network infrastructure and innovations in mobile, fixed, and cloud networks. The company is known for its collaborative approach to technology, working with service providers, enterprises, and partners worldwide. Nokia's commitment to security, reliability, and sustainability in network creation positions it as a trusted entity in the digital transformation space.
This share repurchase activity is part of Nokia's broader strategy to manage its capital structure and to return value to shareholders. The information provided is based on a press release statement from Nokia Corporation.
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