Thursday, Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) completed the repurchase of its own shares as part of an ongoing program to return cash to shareholders. The company bought back a total of 385,015 shares at a weighted average price of €3.99 per share. The transactions were carried out across various trading venues, with the majority, 340,000 shares, traded on XHEL and an additional 45,015 shares on CEUX.
This buyback is a continuation of Nokia's strategy to optimize shareholder value, as initially announced on January 25, 2024. The Board of Directors had then authorized a share buyback program aimed at repurchasing up to €600 million worth of shares over two years. The first phase of this program began on March 20, 2024.
Later, on July 19, 2024, Nokia decided to expedite the process by increasing the volume of shares to be repurchased within the year. Following this decision, the accelerated repurchase plan commenced on July 22, 2024, under the regulatory framework of the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. The authorization for this activity was granted during Nokia’s Annual General Meeting held on April 3, 2024.
The total expenditure for the share repurchases on November 21, 2024, amounted to €1,534,824. With the completion of these transactions, Nokia Corporation's treasury now holds 209,702,510 of its own shares.
Nokia is recognized as a leader in B2B technology innovation, focusing on the development of networks capable of sensing, thinking, and acting. The company's commitment to this vision is supported by its extensive research and development activities, including those at the esteemed Nokia Bell Labs. Nokia's products and services are trusted by service providers, enterprises, and partners around the globe, who rely on the company for secure, reliable, and sustainable networks.
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