ESPOO – Finnish telecommunications company Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has purchased 872,093 of its own shares on January 10, 2025, at an average weighted price of €4.41 per share. This transaction took place on the Helsinki Stock Exchange (MIC Code XHEL), and the total cost amounted to €3,842,878.
The buyback is part of a program announced on November 22, 2024, aimed at mitigating the dilutive effect of shares to be issued to Infinera (NASDAQ:INFN) Corporation's shareholders and certain share-based incentives of Infinera Corporation. The program, which adheres to the Market Abuse Regulation (EU) 596/2014 (MAR), the European Commission's delegated regulation (EU) 2016/1052, and the authorization granted by Nokia's Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and will conclude by December 31, 2025, at the latest.
Nokia's objective with this program is to acquire 150 million shares using a total sum of up to €900 million. Following the recent acquisition, Nokia now holds 226,474,894 of its own shares.
The details of the transactions are attached to the press release statement. BofA Securities Europe SA executed the buyback on behalf of Nokia Oyj.
Nokia is recognized for creating technology that connects the world. As a B2B technology and innovation leader, the company pioneers future networks that are sensing, thinking, and intelligent. Nokia's leadership is grounded in its expertise in fixed, mobile, and cloud network services. It generates value through intellectual property rights and is renowned for its long-term research and development led by the award-winning Nokia Bell Labs. Nokia's efficient network solutions are based on open architecture, seamlessly integrating with various ecosystems, thus enabling new commercialization and scaling opportunities.
Service providers, businesses, and partners worldwide rely on Nokia's network performance, responsibility, and security standards. The company collaborates with partners to develop future digital services and applications.
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