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Nokia buys back shares to mitigate dilution

Published 13/02/2025, 21:34
Nokia buys back shares to mitigate dilution
NOK
-0.69%

ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed the purchase of 1,380,441 of its own shares on Monday, with the transaction carried out on the Helsinki Stock Exchange (XHEL). The weighted average price per share was €4.76, amounting to a total cost of €6,575,869 for the day’s repurchase.

The buyback is part of a program that began on November 25, 2024, following an announcement by Nokia on November 22, 2024. The program aims to mitigate the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives. The repurchase initiative, authorized by Nokia’s Annual General Meeting on April 3, 2024, is set to continue until December 31, 2025. The goal is to acquire up to 150 million shares with a maximum aggregate purchase price of €900 million.

As a result of the recent transaction, Nokia’s holding of treasury shares has reached 247,809,658. The buyback complies with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.

Nokia, a B2B technology leader, focuses on creating networks that are capable of sensing, thinking, and acting. The company is known for its contributions across mobile, fixed, and cloud networks. Additionally, Nokia generates value through intellectual property and long-term research, with the renowned Nokia Bell Labs at the forefront of innovation, marking a century of advancements.

The company asserts that its high-performance networks are designed to integrate seamlessly into any ecosystem, offering service providers, enterprises, and partners around the world secure, reliable, and sustainable networking solutions. These networks are also positioned to support the development of digital services and applications for the future.

This information is based on a press release statement from Nokia Corporation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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