ESPOO - Nokia Oyj (HEL:HE:NOKIA) announced on Tuesday that it has purchased 872,093 of its own shares at a weighted average price of €4.01 per share. The buyback, conducted on the Helsinki Stock Exchange (XHEL), is part of a broader program initiated by the Finnish telecommunications company to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and for certain stock-based incentives.
The share repurchase program, compliant with the EU Market Abuse Regulation (MAR) and authorized by Nokia's Annual General Meeting on April 3, 2024, began on Monday and is set to conclude by December 31, 2025. With a goal to acquire 150 million shares, the total amount allocated for the buyback will not exceed €900 million. The transactions carried out on November 26, 2024, resulted in a total expenditure of €3,494,389.
Following the recent acquisitions, Nokia now holds 361,446,696 of its own shares. The company's repurchase plan aligns with the authorization granted by its shareholders and is executed in accordance with regulatory provisions.
Nokia, a leader in B2B technology and innovation, is recognized for its contributions to the development of intelligent network solutions. The company emphasizes the integration of its network solutions into diverse ecosystems, enabling commercialization and scalability. Nokia is committed to performance, sustainability, and security standards that its global partners, including service providers and enterprises, rely on.
The information regarding Nokia's share buyback is based on a press release statement.
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