ESPOO - Nokia Oyj (HEL:HE:NOKIA) has repurchased its own shares on Monday, as part of a program to offset the dilutive effect of equity incentives and shares issued to Infinera (NASDAQ:INFN) Corporation shareholders. The Finnish telecommunications company acquired a total of 868,501 shares at a weighted average price of €4.25 per share, amounting to a total cost of €3,687,655.
The buyback initiative, which began on November 25, 2024, follows Nokia's announcement on November 22, 2024, that its board had approved a share repurchase plan. This move is 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.
The repurchase program aims to acquire up to 150 million shares with a maximum expenditure of €900 million, to be completed by December 31, 2025. Following the latest transaction, Nokia now holds a total of 219,494,558 treasury shares.
This strategic decision by Nokia is part of its broader efforts to maintain shareholder value and manage the potential dilutive impact of its recent transactions. The company, known for its leadership in both fixed and mobile network solutions, as well as cloud services, continues to focus on pioneering future-ready network technologies through its innovation arm, Nokia Bell Labs.
As a global B2B technology leader, Nokia emphasizes the integration of its robust network solutions into diverse ecosystems, creating new opportunities for network commercialization and scalability. Service providers, enterprises, and partners worldwide rely on Nokia for high-performance, responsible, and secure network standards.
The information provided in this article is based on a press release statement from Nokia Oyj.
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