ESPOO - Finnish telecommunications company Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) announced on Monday that it has repurchased 1.4 million of its own shares at a weighted average price of €4.72 per share. This transaction took place on the Helsinki Stock Exchange (XHEL) and is part of a broader share buyback program initiated by the company.
The program, which began on November 25, 2024, is designed to mitigate the dilutive impact of shares to be issued to Infinera (NASDAQ:INFN) Corporation shareholders and to offset the dilution from certain stock-based incentives related to Infinera Corporation. The buyback program follows the guidelines set by the European Market Abuse Regulation (EU) 596/2014 (MAR), the European Commission’s delegated regulation (EU) 2016/1052, and is authorized by Nokia’s Annual General Meeting held on April 3, 2024.
Nokia’s buyback program aims to acquire 150 million shares with a total expenditure of up to €900 million, and it is scheduled to conclude by December 31, 2025, at the latest. The total cost for the shares repurchased on February 10, 2025, amounted to €6,611,080. After the recent acquisitions, Nokia now holds 243,703,874 of its own shares.
Nokia, a leader in B2B technology and innovation, is recognized for its advancements in fixed, mobile, and cloud network solutions. With a century of value creation driven by intellectual property rights and research led by the award-winning Nokia Bell Labs, the company continues to pioneer future-oriented network solutions. Nokia’s network solutions, known for their performance, responsibility, and security standards, are trusted by service providers, enterprises, and partners worldwide.
This buyback activity is part of Nokia’s ongoing efforts to manage its capital structure and to deliver value to its shareholders. The information for this report is based on a press release statement issued by Nokia.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.