ESPOO, Finland – Nokia (HE:) Corporation (NYSE:NOK) has announced the repurchase of 875,685 of its own shares on Friday, an action taken under its current share buyback program. The shares were bought back at an average price of €4.27 per share, with the total transaction cost amounting to €3,740,926.
The repurchase program, which commenced on November 25, 2024, is part of a strategy to counterbalance the dilutive impact of issuing new shares to Infinera (NASDAQ:) Corporation shareholders and for certain share-based incentives following a corporate action announced on November 22, 2024. Nokia’s buyback program is set to continue until December 31, 2025, with the aim of acquiring 150 million shares for a maximum aggregate purchase price of €900 million.
Following the latest transaction, Nokia’s treasury now holds 220,370,243 shares. The buyback initiative aligns with the Market Abuse Regulation (MAR) and the Commission Delegated Regulation, operating within the authorization granted by Nokia’s Annual General Meeting held on April 3, 2024.
Nokia, a recognized leader in B2B technology innovation, is known for its advanced networking solutions and long-term research contributions, particularly through the renowned Nokia Bell Labs. The company focuses on developing networks that are capable of sensing, thinking, and acting, and on creating value through its intellectual property.
The information in this article is based on a press release statement from Nokia Corporation.
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