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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a repurchase of its own shares on Thursday, as part of its ongoing buyback program aimed to mitigate the dilutive impact of share issuances connected to its acquisition of Infinera (NASDAQ:INFN) Corporation. The company bought back 1,256,122 shares at an average price of EUR 4.77 per share, amounting to a total cost of EUR 5,989,818.
This transaction is a continuation of the share buyback program announced on November 22, 2024, following the authorization by Nokia’s Annual General Meeting on April 3, 2024. The program, which began on November 25, 2024, is set to conclude by December 31, 2025. The objective is to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.
Following the latest transaction, the total number of treasury shares held by Nokia Corporation has reached 254,445,785. The repurchase was conducted on the trading venue XHEL and was carried out in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia, a leader in B2B technology innovation, is known for pioneering networks that are designed to be adaptive and scalable. With a focus on mobile, fixed, and cloud networks, the company also invests in intellectual property and long-term research through the Nokia Bell Labs. Its open architectures are intended to integrate into various ecosystems, offering high-performance networks that support the creation of digital services and applications for service providers, enterprises, and partners around the globe.
The information in this article is based on a press release statement from Nokia Corporation.
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