ESPOO – Nokia Oyj (HEL:HE:) repurchased its own shares on Wednesday as part of a repurchase program aimed at mitigating the dilutive effect of shares distributed to shareholders of Infinera Corporation (NASDAQ:) and certain share-based incentives related to the Infinera Transaction. The Finnish telecommunications company acquired a total of 872,093 shares at a weighted average price of EUR 4.02 per share, for a total cost of EUR 3.5 million.
The share buyback initiative, announced on November 22, 2024, is being conducted in accordance with the European Market Abuse Regulation (EU) 596/2014, the European Commission Delegated Regulation (EU) 2016/1052 and the authorization issued by annual general meeting of Nokia. Meeting on April 3, 2024. The program started on November 25, 2024. and is expected to be completed no later than December 31, 2025. Nokia’s aim is to buy 150 million shares for a maximum total cost of €900 million.
After the latest transactions, Nokia now owns 209,033,034 of its own shares. These buybacks are part of Nokia’s broader strategy to manage the company’s capital structure and return value to shareholders. Details of purchases are disclosed in the appendix to the company’s press statement.
Nokia is recognized as a leader in B2B technology and innovation with a focus on creating intelligent network solutions that respond to future needs. The company’s position is based on its expertise in fixed, mobile and cloud networks, as well as creating value through intellectual property rights and its commitment to long-term research and development with the award-winning Nokia Bell Labs.
This information is based on a press release from Nokia Oyj.
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