SoFi CEO enters prepaid forward contract on 1.5 million shares
ESPOO - Finnish telecommunications company Nokia Oyj (HEL:HE:NOKIA) has announced the purchase of its own shares on January 31, 2025, as part of an ongoing buyback program initiated to mitigate dilution from stock incentives and shareholder distributions related to its acquisition of Infinera (NASDAQ:INFN) Corporation.
The buyback, conducted under the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, aligns with the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. The program began on November 25, 2024, and aims to acquire up to 150 million shares with a maximum total expenditure of 900 million euros, set to conclude by December 31, 2025.
On the stated date, Nokia repurchased 872,093 shares at a weighted average price of 4.49 euros per share, totaling 3,912,384 euros. Following these transactions, the company now holds 236,030,991 of its own shares.
This share buyback is part of a broader strategy to offset the dilutive effect of equity distributions to Infinera Corporation’s shareholders and the issuance of stock-based incentives, as announced by Nokia on November 22, 2024.
Nokia, a leader in B2B technology and innovation, continues to pioneer future network solutions characterized by their sensing, thinking, and intelligent capabilities. The company’s position is built upon expertise in fixed, mobile, and cloud network services, complemented by its value creation in intellectual property rights and the award-winning research and development at Nokia Bell Labs.
As Nokia integrates its network solutions into various ecosystems, it remains focused on performance, responsibility, and security standards, garnering trust from service providers, enterprises, and partners worldwide in its pursuit of developing digital services and applications for the future.
The information for this report is based on a press release statement from Nokia Oyj.
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