ESPOO - Nokia Oyj (HEL:HE:NOKIA) announced on Monday that it has continued its share buyback program, acquiring 1,390,880 of its own shares at an average price of €4.69 per share. This transaction, part of an ongoing effort to mitigate the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation’s shareholders and certain stock-based incentives, was conducted on the Helsinki Stock Exchange (XHEL).
The buyback initiative, which began on November 25, 2024, is set to conclude by December 31, 2025. It aims to procure up to 150 million shares, with a maximum total expenditure of €900 million. With the latest transaction, Nokia’s total cost amounted to €6,518,637 and the company now holds 245,094,754 of its own shares.
This move follows the authorization given by the company’s board of directors on November 22, 2024, and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, as well as the mandate from Nokia’s Annual General Meeting on April 3, 2024.
Nokia, a leading B2B technology and innovation company, is at the forefront of developing intelligent network solutions for the future. With a strong foundation in fixed, mobile, and cloud network services, Nokia has been creating value through intellectual property rights and its award-winning research and development arm, Nokia Bell Labs, for over a century.
The company’s efficient network solutions are designed to integrate seamlessly with various ecosystems, enabling new commercialization and scaling opportunities. Service providers, enterprises, and partners worldwide rely on Nokia’s network performance, responsibility, and security standards. Nokia collaborates with partners to develop future digital services and applications.
The information provided is based on a press release statement from Nokia Oyj.
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