ESPOO, Finland – Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Friday, with transactions amounting to an average price of €3.97 per share. This move is part of a broader share buyback program announced on November 22, 2024, aimed at mitigating the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives.
The buyback program, which began on Monday, complies with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. It follows the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. The plan is to repurchase up to 150 million shares by December 31, 2025, for a maximum aggregate purchase price of €900 million.
Following the recent transactions, the total cost of which was €3,463,605, Nokia now holds 364,062,975 treasury shares. These repurchases are part of Nokia's strategy to balance its capital structure and to return value to shareholders.
Nokia, a global leader in B2B technology innovation, is known for developing networks that are designed to be adaptive and scalable. With a commitment to creating value through intellectual property and long-term research, led by Nokia Bell Labs, the company focuses on delivering high-performance networks that offer secure, reliable, and sustainable solutions.
The information on these transactions is based on a press release statement from Nokia Corporation. This share buyback is a financial strategy to manage the effects of equity compensation and acquisition-related expenses without suggesting broader market implications.
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