ESPOO – Nokia Oyj (HEL:HE:NOKIA) announced on Thursday that it has purchased a tranche of its own shares as part of a buyback program aimed at mitigating the dilutive effect of equity compensation and shares issued to Infinera (NASDAQ:INFN) Corporation shareholders. The transaction, which took place on the Helsinki Stock Exchange (XHEL), involved 872,093 shares at a weighted average price of €3.97 per share, totaling €3,465,349.
This buyback initiative is part of a broader plan that the company's board initiated on November 22, 2024, following the authorization granted by the annual general meeting on April 3, 2024. The program commenced on November 25, 2024, and will run until December 31, 2025, or until 150 million shares are repurchased, whichever occurs first. Nokia has allocated a maximum of €900 million for this purpose.
Following the recent acquisition, Nokia now holds 363,190,882 of its own shares. The buyback program complies with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and is executed by BofA Securities Europe SA on behalf of Nokia.
Nokia is a leader in technologies that connect people and things. With a strong presence in fixed, mobile, and cloud networks, the company is known for integrating its solutions into various ecosystems, enhancing network commercialization and scalability. Nokia's innovation is supported by its intellectual property rights and the research and development efforts of the renowned Nokia Bell Labs.
The information for this report is based on a press release statement.
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