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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 3,795,042 of its own shares on Monday, as part of a program to counterbalance the dilutive impact of issuing new shares for the Infinera (NASDAQ:INFN) Corporation acquisition and related incentive plans. The transactions, conducted across different trading venues, carried a weighted average price of EUR 4.93 per share, amounting to a total cost of EUR 18,703,105.
The buyback initiative, announced on November 22, 2024, is in accordance with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. It follows the authorization by Nokia’s Annual General Meeting on April 3, 2024, and is set to conclude by December 31, 2025. The plan targets the repurchase of 150 million shares with a ceiling of EUR 900 million on the aggregate purchase price.
Following the recent transactions, Nokia Corporation’s treasury now holds 194,123,580 shares. The repurchase program is a strategic move to offset the potential dilution stemming from the share distribution to Infinera shareholders and the execution of Infinera share-based incentives.
Nokia, a leader in B2B technology innovation, is recognized for developing networks that are capable of sensing, thinking, and acting. With a century of innovation through Nokia Bell Labs, the company continues to drive value in the tech industry with its intellectual property and research endeavors. Nokia’s open architecture networks are designed to integrate seamlessly into various ecosystems, enabling service providers, enterprises, and partners globally to trust in the secure, reliable, and sustainable networks Nokia provides.
This news is based on a press release statement from Nokia Corporation detailing the share repurchase executed on Monday.
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