ESPOO - Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has purchased its own shares on Friday as part of a buyback program aimed at offsetting the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives. The company acquired a total of 872,093 shares at a weighted average price of €3.97 per share.
This buyback is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the European Commission's delegated regulation (EU) 2016/1052, and the authorization granted by Nokia's Annual General Meeting on April 3, 2024. The program, which started on November 25, 2024, intends to repurchase up to 150 million shares with a maximum total spend of €900 million, concluding by December 31, 2025.
The total cost for the shares bought on November 29, 2024, was €3,463,605. Following these transactions, Nokia now holds 364,062,975 of its own shares. Detailed information about the purchases is attached to this announcement.
Nokia, a leader in B2B technology and innovation, is known for pioneering future networks that are sensory, cognitive, and intelligent. Their expertise spans across fixed, mobile, and cloud service networks, creating value through intellectual property rights and long-term research and development led by the award-winning Nokia Bell Labs. Their efficient network solutions, based on open architecture, integrate seamlessly into various ecosystems, offering new commercialization and scaling opportunities for service providers, enterprises, and partners worldwide.
The information provided is based on a press release statement from Nokia.
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