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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed a significant repurchase of its own shares on Tuesday, as part of an ongoing effort to mitigate the dilutive effect of a recent acquisition. The telecommunications company acquired a total of 4,290,222 shares across several trading venues, with the weighted average price per share at €4.77.
This buyback is a component of a larger program announced on November 22, 2024, following Nokia’s acquisition of Infinera (NASDAQ:INFN) Corporation. The program, which is set to conclude by December 31, 2025, aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million.
Nokia’s transactions on Tuesday amounted to a total cost of €20,467,362. With these latest acquisitions, the company now holds 160,486,193 treasury shares.
The repurchase program is being conducted under the guidelines of the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, following the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia, a company recognized for its technology that enables connectivity and collaboration globally, is also known for its pioneering work in networks that are sensitive, cognitive, and responsive. Celebrating a century of innovation through its Nokia Bell Labs, the company continues to influence the B2B technology landscape with its open architectures and high-performance networks.
The repurchase initiative reflects Nokia’s strategic approach to managing its capital structure and shareholder value following the integration of Infinera Corporation. The detailed transactions from the repurchase have been made publicly available as an appendix to the company’s announcement.
The information is based on a press release statement from Nokia Corporation.
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