Thursday marked the conclusion of Nokia Oyj (HE:NOKIA)'s share buyback program that was initially announced on March 18, 2024, and later expanded on July 19, 2024. The company successfully repurchased 157,646,220 of its own shares (FI0009000681) at an average price of approximately €3.81 per share during the period from March 20, 2024, to November 21, 2024.
Nokia intends to cancel the acquired shares in December 2024. The buyback program reduced the company's free equity by €600 million. Following the completion of this program, Nokia now holds a total of 209,702,510 of its own shares.
The shares were acquired through directed repurchasing, which is a method of buying shares other than in proportion to the existing shareholders' ownership, in public trading on the regulated market of Nasdaq Helsinki and certain multilateral trading facilities.
Nokia is recognized as a leader in B2B technology and innovation, pioneering the future of networks that are sensory, cognitive, and intelligent. The company's leadership is built on expertise in fixed, mobile, and cloud network solutions. Nokia creates value through intellectual property rights and is renowned for its long-term research and development, led by the award-winning Nokia Bell Labs. The company's efficient network solutions, based on open architecture, integrate seamlessly into various ecosystems, opening up new opportunities for network commercialization and scalability. Service providers, enterprises, and other partners worldwide rely on the performance, responsibility, and security standards of Nokia's networks. The company collaborates with partners to develop the digital services and applications of the future. For more information, please contact Nokia Communications at +358 10 448 4900 or via email at press.services@nokia.com, and Nokia Investor Relations at +358 40 803 4080 or via email at investor.relations@nokia.com.
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