ESPOO – Nokia Oyj (HE:NOKIA) (NYSE:NOK) has repurchased a portion of its own shares on Tuesday, as part of an ongoing buyback program aimed at offsetting the dilutive effect of stock distributed to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives. The Finnish telecommunications company acquired 872,093 shares at a weighted average price of €4.01 each, for a total expenditure of €3,497,006.
The share buyback initiative, which began on November 25, 2024, follows the announcement made by Nokia on November 22, 2024, detailing the board's decision to mitigate dilution from a recent transaction with Infinera Corporation. The program is set to conclude by December 31, 2025, with the objective of purchasing up to 150 million shares using a maximum of €900 million.
Following the latest transaction, Nokia now holds 365,807,161 of its own shares. The buyback is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
Nokia, a leader in B2B technology and innovation, is recognized for its contributions to developing networks that are intelligent and responsive to future demands. The company's leadership is grounded in its expertise in fixed, mobile, and cloud service networks, and it places significant value on intellectual property rights and research and development, led by the acclaimed Nokia Bell Labs.
This repurchase activity is part of Nokia's broader strategy to create value for its stakeholders and maintain its commitment to performance, responsibility, and security standards in its network solutions. The company continues to work closely with service providers, enterprises, and partners worldwide to develop digital services and applications for the future.
The details of the repurchases are enclosed within the press release statement.
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