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ESPOO – Nokia Oyj (HEL:HE:NOKIA) announced on Tuesday that it has completed the purchase of its own shares as part of its buyback program initiated to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and for certain stock-based incentives. The transactions were conducted on January 28, 2025, with a total of 872,093 shares acquired at an average weighted price of €4.32 per share, amounting to a total cost of €3,763,605.
This buyback is in line with the authorization granted by Nokia’s Annual General Meeting on April 3, 2024, and complies with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the delegated regulation by the European Commission (EU) 2016/1052. The program began on November 25, 2024, and is set to conclude by December 31, 2025, aiming to repurchase 150 million shares for a maximum total expenditure of €900 million.
Following these recent acquisitions, Nokia now holds 233,414,712 of its own shares. The buyback program’s objective is to offset the dilution caused by the issuance of shares to Infinera’s shareholders and to fulfill obligations arising from stock-based incentive plans.
Nokia is a leader in B2B technology and innovation, pioneering future sensing, thinking, and intelligent network solutions. The company’s leadership is founded on expertise in fixed, mobile, and cloud network solutions. Nokia creates value through intellectual property rights and long-term research and development, led by the award-winning Nokia Bell Labs. Their efficient network solutions based on open architecture integrate seamlessly with various ecosystems, enabling new commercialization and scaling opportunities for networks. Service providers, enterprises, and partners worldwide rely on Nokia’s network performance, responsibility, and security standards.
The information for this article is based on a press release statement.
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