ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Friday, the company announced in a statement. The average price paid per share was €4.39, totaling approximately €3.83 million.
This move is part of a broader share buyback program that Nokia initiated on November 22, 2024, following the issuance of new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. The program, which is set to conclude by December 31, 2025, aims to buy back up to 150 million shares with a maximum aggregate purchase price of €900 million. The buyback plan is designed to offset the dilutive effect of the new shares issued.
The share repurchase is being conducted under the authorization granted by the Annual General Meeting on April 3, 2024, and is in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052.
Following the transactions on Friday, Nokia Corporation holds a total of 230,835,359 treasury shares. The transactions were executed through the trading venue XHEL.
Nokia, known for its B2B technology innovations, pioneers networks that sense, think, and act, and is involved in mobile, fixed, and cloud networks. The company also focuses on intellectual property and research through Nokia Bell Labs, aiming to create technology that facilitates global connectivity and collaboration.
The information regarding the share repurchase is based on a press release statement from Nokia Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.