ESPOO - Nokia Oyj (HEL:HE:NOKIA) announced on Monday that it has initiated a share repurchase program, acquiring a total of 872,093 shares at an average price of €3.99 each. This move is part of a broader effort to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related to Infinera's stock-based incentive programs.
The buyback program, which started on November 25, 2024, follows the authorization by Nokia's Annual General Meeting on April 3, 2024, and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The company aims to repurchase up to 150 million shares with a maximum total expenditure of €900 million, to be completed by December 31, 2025.
The transactions carried out on December 2, 2024, resulted in a total expenditure of €3.48 million. Following these purchases, Nokia now holds 364,935,068 of its own shares. The details of the acquisitions were provided as an annex to this announcement.
The repurchase program is a strategic step by Nokia, a leader in B2B technology and innovation, known for its pioneering work in sensing, thinking, and intelligent network solutions. The company's leadership is built on expertise in fixed, mobile, and cloud network services, with a value-driven approach through intellectual property rights and sustained research and development led by the award-winning Nokia Bell Labs.
Nokia's network solutions, based on open architecture, integrate seamlessly into various ecosystems, offering new commercialization and scaling opportunities for service providers, enterprises, and partners worldwide. The company is committed to performance, responsibility, and security standards in its networks, collaborating with partners to develop the digital services and applications of the future.
This share repurchase activity is part of Nokia's ongoing commitment to deliver value to its shareholders and to adjust the capital structure of the company accordingly. The information is based on a press release statement.
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