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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed a repurchase of its own shares on Monday, as part of its ongoing buyback program aimed at offsetting the dilutive impact of new share issuances. The company acquired a total of 1,396,657 shares at a weighted average price of €4.74 per share, amounting to a total cost of approximately €6.62 million.
The buyback initiative, which began on November 25, 2024, follows Nokia’s announcement on November 22, 2024, detailing the Board of Directors’ decision to implement the program. This decision was made to counteract the dilution from issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives. The repurchase program is set to conclude by December 31, 2025, with a target of acquiring 150 million shares for a maximum aggregate purchase price of €900 million.
As a result of this transaction, Nokia now holds 253,189,663 treasury shares. The repurchase was conducted on the trading venue XHEL and was in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia is a global technology leader focused on network innovation and is known for its contributions to mobile, fixed, and cloud networks. The company’s research arm, Nokia Bell Labs, is recognized for its century-long history of technological advancements. Nokia’s commitment to creating high-performance, secure, and sustainable networks has garnered trust from service providers, enterprises, and partners around the world.
This repurchase is part of Nokia’s broader strategy to manage its capital structure and to return value to shareholders, as it continues to navigate the competitive technology landscape. The information regarding this transaction is based on a press release statement issued by Nokia Corporation.
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