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ESPOO - Nokia Oyj (HEX:HE:NOKIA) has completed a buyback of its own shares on February 26, as part of a program to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation’s shareholders and certain stock-based incentives. The company acquired 1.4 million shares at a weighted average price of €4.74 per share, totaling €6.63 million.
The buyback initiative, which began on November 25, 2024, follows the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. The program is designed to purchase up to 150 million shares, with a maximum total expenditure of €900 million, and is set to conclude by December 31, 2025, at the latest.
Following the recent transaction, Nokia now holds a total of 259.9 million of its own shares. This step aligns with the regulations set forth by the Market Abuse Regulation (EU) 596/2014 (MAR) and the delegated regulation (EU) 2016/1052.
Nokia, a leader in B2B technology and innovation, is known for pioneering future-oriented network solutions through its expertise in fixed, mobile, and cloud networks. The company has a century-long history of value creation driven by intellectual property rights and research and development, led by the award-winning Nokia Bell Labs.
The information in this article is based on a press release statement from Nokia Oyj.
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