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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a significant repurchase of its own shares on Monday, as part of a broader effort to offset the dilutive impact of a recent acquisition. The telecommunications company acquired a total of 4,666,031 shares across different trading venues at a weighted average price of 4.90 euros per share.
The transaction is a continuation of Nokia’s share buyback program announced on November 22, 2024, following the issuance of new shares to Infinera (NASDAQ:INFN) Corporation shareholders. This program, which aims to repurchase 150 million shares for a maximum aggregate purchase price of 900 million euros, began on November 25, 2024, and is set to conclude by the end of December 2025.
Nokia’s latest repurchase involved transactions on the XHEL, CEUX, AQEU, and TQEX trading venues, with the total cost for the day’s transactions amounting to approximately 22.85 million euros. Following these transactions, Nokia now holds 209,385,537 treasury shares.
This move by Nokia is part of its strategic initiatives to manage the company’s capital structure and to return value to shareholders. The repurchase program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia, a leader in B2B technology innovation, continues to focus on developing networks that are capable of sensing, thinking, and acting, leveraging its extensive work across mobile, fixed, and cloud networks. The company also emphasizes the creation of value through intellectual property and long-term research, with contributions from the award-winning Nokia Bell Labs.
The information in this article is based on a press release statement by Nokia Corporation.
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