ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a purchase of 872,093 of its own shares on Thursday, with a weighted average price of €4.48 per share, as part of its ongoing share buyback program. The transaction, which took place on the Helsinki Stock Exchange (XHEL), amounted to a total cost of approximately €3.9 million.
This buyback is a part of a larger program that was announced on November 22, 2024, following Nokia's acquisition of Infinera (NASDAQ:INFN) Corporation. The program aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million, to offset the dilutive effect of new shares issued to Infinera shareholders and for share-based incentives.
The share repurchase initiative began on November 25, 2024, and is expected to conclude by December 31, 2025. It is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Following the transactions on Thursday, Nokia Corporation's treasury now holds 230,798,433 shares. The repurchases are executed by BofA Securities Europe SA, and details of the transactions have been provided as an appendix to the announcement.
Nokia, a global leader in B2B technology innovation, is known for pioneering networks that are capable of sensing, thinking, and acting, and for creating value through intellectual property and long-term research led by the award-winning Nokia Bell Labs. The company's open architectures are designed to seamlessly integrate into various ecosystems, providing high-performance networks that enable new monetization opportunities and scalability for service providers, enterprises, and partners worldwide.
The information for this article is based on a press release statement from Nokia Corporation.
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