HELSINKI - Nokia Oyj (HEL:HE:NOKIA) has announced the acquisition of its own shares on Thursday as part of an ongoing buyback program initiated to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and to compensate for certain stock-based incentives. The company reported that it purchased 872,093 shares at a weighted average price of €4.30 per share, totaling €3,753,139 on the Helsinki Stock Exchange (XHEL).
The buyback is conducted under the European Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, following the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. The program, which commenced on November 25, 2024, aims to acquire up to 150 million shares with a maximum total expenditure of €900 million and is slated to conclude by December 31, 2025.
Following the recent transaction, Nokia now holds a total of 222,114,429 treasury shares. The company has provided detailed information about the acquisitions in an annex to the press release statement.
Nokia is a leader in B2B technology and innovation, known for pioneering future network solutions that are perceptive, cognitive, and intelligent. The company’s leadership is built on expertise in fixed, mobile, and cloud network services, while creating value through intellectual property rights and research and development led by the award-winning Nokia Bell Labs. Nokia’s efficient network solutions are based on open architecture, integrating seamlessly into various ecosystems, thus offering new commercialization and scaling opportunities for networks.
The buyback program is part of Nokia’s strategic financial management and reflects the company’s commitment to delivering value to its shareholders. This information is based on a press release statement from Nokia Oyj.
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