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ESPOO - Nokia Oyj (NYSE:NOK) has purchased 1,396,657 of its own shares on February 19, 2025, at an average weighted price of €4.74 per share, as part of its ongoing share buyback program. The total cost of the shares acquired on that day amounts to €6,621,272.
The buyback initiative, which was announced on November 22, 2024, is designed to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and to offset the impact of certain stock-based incentives related to Infinera Corporation. The program, which is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025, at the latest.
Nokia’s objective is to repurchase up to 150 million shares, with a maximum total expenditure of €900 million. Following the transactions completed on February 19, the company now holds 253,189,663 of its own shares.
The share buyback program is part of Nokia’s broader strategy as a B2B technology and innovation leader, with a focus on pioneering future networks that are sensory, cognitive, and intelligent. Building on its expertise in fixed, mobile, and cloud services networks, Nokia continues to drive value through intellectual property rights and sustained research and development, led by the award-winning Nokia Bell Labs for over a century.
Nokia’s network solutions, based on open architecture, seamlessly integrate into various ecosystems, enabling new commercialization and scaling opportunities for networks. Service providers, enterprises, and partners worldwide rely on the performance, responsibility, and security standards of Nokia’s networks as they work collaboratively to develop future digital services and applications.
This information is based on a press release statement from Nokia Oyj.
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