ESPOO - Nokia Oyj (HEX:HE:NOKIA), a global leader in telecommunications and consumer electronics, reported on Friday that it has continued its share repurchase initiative, buying back 872,093 of its own shares at an average weighted price of €4.31 per share on the Helsinki Stock Exchange (XHEL).
The buyback is part of a program announced on November 22, 2024, aimed at mitigating the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives related to Infinera Corporation. The repurchases are being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and under the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
The program commenced on November 25, 2024, and is set to conclude by December 31, 2025, with a target to acquire 150 million shares using a maximum total amount of €900 million. The total price for the shares acquired on January 3, 2025, amounted to €3,762,907.
Following the recent transactions, Nokia now holds 222,986,522 of its own shares. The company has been recognized for its leading position in both fixed and mobile network technologies as well as cloud services, with a focus on creating value through intellectual property rights and research and development led by the award-winning Nokia Bell Labs.
Nokia's network solutions, built on open architecture, are designed to integrate seamlessly into various ecosystems, enabling new commercialization and scaling opportunities. Service providers, enterprises, and partners worldwide rely on Nokia's network performance, sustainability, and security standards.
The information in this report is based on a press release statement issued by Nokia.
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