ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) on Thursday announced the repurchase of 872,093 of its own shares at an average price of €4.30 per share. The total transaction cost for the repurchases carried out on the Helsinki Stock Exchange (XHEL) amounted to €3,753,139.
This buyback is part of a program that began on November 25, 2024, following the Board of Directors’ decision to mitigate the dilutive effect of new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives. The program, which is in accordance with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, was authorized by Nokia’s Annual General Meeting on April 3, 2024. It aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million and is set to conclude by December 31, 2025.
As a result of the recent transaction, Nokia now holds 222,114,429 treasury shares. The buyback program’s details were provided as an appendix to the company’s announcement.
Nokia, a technology innovation leader, develops networks and technologies for mobile, fixed, and cloud services. It is recognized for creating high-performance networks that integrate into various ecosystems. Service providers, enterprises, and partners globally rely on Nokia for secure, reliable, and sustainable networks. The company also focuses on intellectual property and long-term research, with contributions from the distinguished Nokia Bell Labs.
The information for this report is based on a press release statement from Nokia Corporation.
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