ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has repurchased 1,390,880 of its own shares at an average price of €4.69 per share on Monday, as part of its share buyback program initiated to counter the dilutive impact of issuing new shares.
The transactions, carried out on the Helsinki Stock Exchange (XHEL), totaled approximately €6.52 million. This buyback is a segment of a larger program announced on November 22, 2024, by Nokia’s Board of Directors, following the acquisition of Infinera (NASDAQ:INFN) Corporation. The program, which began on November 25, 2024, is set to conclude by December 31, 2025, with the aim of repurchasing up to 150 million shares for a maximum aggregate purchase price of €900 million.
This strategic move is designed to mitigate the dilution caused by the distribution of new Nokia shares to Infinera shareholders and to certain share-based incentives. Following the latest transactions, Nokia now holds a total of 245,094,754 treasury shares.
Nokia, a global leader in B2B technology innovation, is recognized for developing networks that are capable of sensing, thinking, and acting, building on its expertise across mobile, fixed, and cloud networks. The company is also known for its valuable intellectual property and long-term research efforts, notably through the prestigious Nokia Bell Labs.
The share buyback aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. It is executed under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
The information provided is based on a press release statement from Nokia Corporation.
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