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ESPOO - Nokia Oyj (NYSE:NOK) has successfully completed its share repurchase program that was initiated on November 22, 2024. The purpose of the buyback was to offset the dilutive effect of the acquisition of Infinera (NASDAQ:INFN). During the period between November 25, 2024, and today, Nokia repurchased 150 million of its own shares (FI0009000681) at an average price of approximately €4.69.
The company plans to cancel the acquired shares in April 2025. The buybacks under this program reduced the company’s distributable reserves by about €703 million. Following the repurchases, Nokia now holds a total of 220,509,131 of its own shares.
The shares were acquired through directed buying in public trading on the regulated market of Nasdaq Helsinki and in certain multilateral trading facilities, outside the proportionate ownership of Nokia’s shareholders.
Nokia, a leading B2B technology and innovation company, is at the forefront of creating sensory, cognitive, and intelligent network solutions. Its leadership is rooted in expertise in fixed, mobile, and cloud networks. With a history of creating value through intellectual property rights and research and development led by the award-winning Nokia Bell Labs for over a century, Nokia’s efficient network solutions integrate seamlessly into various ecosystems, offering new commercialization and scaling opportunities. Service providers, enterprises, and partners worldwide rely on Nokia’s network performance, responsibility, and security standards. The company collaborates with partners to develop future digital services and applications.
The share buyback program’s conclusion marks a step in Nokia’s strategy to manage its capital structure and shareholder value. The information for this article is based on a press release statement from Nokia.
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