ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a repurchase of its own shares on Tuesday, as part of a broader initiative to offset dilutive effects from a recent acquisition. The company acquired a total of 872,093 shares at an average price of €4.45 per share on the trading venue XHEL, resulting in a total transaction cost of approximately €3.88 million.
The repurchase is in line with a program announced on November 22, 2024, following Nokia's acquisition of Infinera (NASDAQ:INFN) Corporation. The program, which aims to buy back 150 million shares for a maximum aggregate purchase price of €900 million, began on November 25, 2024, and is scheduled to conclude by December 31, 2025. This effort is designed to counterbalance the potential dilutive effect of new shares issued to Infinera shareholders and for certain share-based incentives.
Following this transaction, Nokia holds 232,579,545 treasury shares. The buyback program is conducted under 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.
Nokia, known for its B2B technology innovations, is focused on developing networks that are responsive, intelligent, and proactive. The company's commitment to creating high-performance networks is supported by its work in mobile, fixed, and cloud networks, as well as its intellectual property and research spearheaded by the renowned Nokia Bell Labs.
This share repurchase is a strategic financial decision aimed at managing the company's equity effectively. It is an administrative move and does not reflect any new technological advancement or market development. The information provided is based on a press release statement from Nokia Corporation.
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