ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Thursday, at a weighted average price of €4.22 per share. The transactions took place on the trading venue XHEL, as part of the company's share buyback program announced on November 22, 2024. This program aims to mitigate the dilutive impact of new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related incentive plans.
The buyback initiative, authorized by Nokia's Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025. The plan involves the repurchase of up to 150 million shares, with a maximum aggregate purchase price of €900 million. The total expenditure for the transactions on December 12 was €3,676,744.
Following these transactions, Nokia holds 213,393,499 treasury shares. The repurchases are conducted under the regulatory framework of the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia is a global B2B technology leader focused on network innovation across mobile, fixed, and cloud networks, as well as intellectual property and research through Nokia Bell Labs. The company supports service providers, enterprises, and partners worldwide, delivering secure and sustainable networks.
The information in this article is based on a press release statement from Nokia Corporation.
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