ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) on Tuesday completed the purchase of 884,897 of its own shares at an average price of €4.23 per share. This transaction is part of the company's buyback program, which was announced on November 22, 2024, following the issuance of new shares to Infinera (NASDAQ:INFN) Corporation shareholders.
The buyback initiative, authorized by Nokia's Annual General Meeting on April 3, 2024, aims to mitigate the dilutive impact of the new shares issued. The program began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia's objective is to repurchase 150 million shares, with a maximum aggregate purchase price of €900 million.
Tuesday's transactions amounted to a total cost of €3,741,698. Following these transactions, Nokia holds 216,009,778 of its own shares in treasury.
The repurchase program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory compliance.
Nokia is a global technology leader focusing on B2B technology innovation, including the development of networks that are designed to be open and integrate seamlessly into various ecosystems. The company is recognized for its contributions to long-term research, with Nokia Bell Labs leading in innovation. Service providers, enterprises, and partners worldwide rely on Nokia's secure and sustainable network solutions.
The information regarding the share repurchase is based on a press release statement issued by Nokia Corporation.
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