ESPOO – Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has completed a purchase of its own shares on Monday, as part of its ongoing buyback program initiated to offset the dilutive impact of equity distributed to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives.
The company acquired a total of 872,093 shares at a weighted average price of €4.34 per share on the Helsinki Stock Exchange (XHEL), amounting to a total cost of €3,782,267. With this transaction, Nokia now holds 227,346,987 of its own shares.
The buyback program, which began on November 25, 2024, following a November 22 announcement, is set to continue until December 31, 2025, or earlier if the target is reached. The program aims to repurchase up to 150 million shares, with a maximum spend of €900 million, under the authorization granted by Nokia's Annual General Meeting on April 3, 2024, and in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052.
The share repurchase is part of Nokia's strategy to manage the dilution and reflects its commitment to delivering shareholder value. BofA Securities Europe SA facilitated the transactions on behalf of Nokia.
Nokia is recognized as a leader in B2B technology and innovation, with a focus on developing intelligent network solutions for the future. The company's position is grounded in its expertise across fixed, mobile, and cloud networks. Leveraging intellectual property rights and the research and development prowess of the award-winning Nokia Bell Labs, Nokia aims to deliver high-performance network solutions that integrate seamlessly into various ecosystems, enabling new commercialization and scaling opportunities.
The information for this report is based on a press release statement.
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