Nokia advances stock buyback program with recent purchase

ESPOO - Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has continued its share buyback program, acquiring 872,093 of its own shares on Monday, at a weighted average price of €4.34 per share. This recent transaction is part of a larger buyback initiative announced on November 22, 2024, aimed at mitigating the dilutive effect of shares to be issued to Infinera (NASDAQ:INFN) Corporation's shareholders and related stock-based incentives.

The buyback program, which adheres to the Market Abuse Regulation (EU) 596/2014 (MAR) and the European Commission's delegated regulation (EU) 2016/1052, as well as the authorization granted by Nokia's Annual General Meeting on April 3, 2024, began on November 25, 2024. It is set to conclude by December 31, 2025, with the goal of acquiring 150 million shares, utilizing a total amount of up to €900 million.

With the completion of the January 27 transactions, Nokia has spent €3,786,889 and now holds a total of 232,542,619 of its own shares in treasury. The details of these acquisitions have been disclosed as an attachment to the press release statement.

Nokia has long been recognized for its contributions to technology that connects the world. As a leader in B2B technology and innovation, the company is at the forefront of developing intelligent network solutions for the future. Nokia's leadership is grounded in its expertise in fixed, mobile, and cloud network solutions, and it is known for creating value through intellectual property rights and extensive research and development, led by the award-winning Nokia Bell Labs.

The company's network solutions, based on open architecture, are designed to integrate seamlessly into various ecosystems, enabling new commercialization and scaling opportunities. Service providers, enterprises, and partners worldwide rely on Nokia for high-performance, responsible, and secure network standards. The company collaborates with partners to develop digital services and applications for the future.

This latest step in Nokia's share buyback program demonstrates its commitment to managing its capital and providing value to its shareholders. The information in this article is based on a press release statement from Nokia Oyj.

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