ESPOO - Nokia Oyj (HEL:HE:NOKIA) announced on Thursday that it has continued its share buyback program by acquiring 872,093 of its own shares at an average price of €4.44 per share, amounting to a total cost of €3,874,448. This latest transaction is part of a broader initiative to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain Infinera stock-based incentives.
The buyback program, which commenced on November 25, 2024, following the authorization by Nokia's Annual General Meeting on April 3, 2024, is set to conclude by December 31, 2025. It aims to acquire 150 million shares with a maximum expenditure of €900 million. To date, Nokia holds 225,602,801 of its own shares following the recent acquisition.
This move is aligned with the European Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring compliance with regulatory standards.
Nokia, a leader in B2B technology and innovation, is recognized for its contributions to the development of intelligent network solutions. With a foundation built on expertise in fixed, mobile, and cloud networks, Nokia creates value through intellectual property rights and extensive research and development, led by the distinguished Nokia Bell Labs.
The company's high-performance network solutions, based on open architecture, integrate seamlessly into various ecosystems, offering new opportunities for commercialization and scalability. Service providers, enterprises, and partners worldwide rely on Nokia's networks for their performance, responsibility, and security standards.
This information is based on a press release statement.
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