ESPOO, Finland - Nokia Corporation (HEL:HE:NOKIA) has repurchased 1.4 million of its own shares on Monday, at an average price of €4.64 per share, the company announced. The total transaction cost amounted to €6,492,780.
This move is part of a share buyback program initiated on November 22, 2024, following the issuance of new Nokia shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. The program, which was authorized by Nokia’s Annual General Meeting on April 3, 2024, aims to mitigate the dilutive effect of these new shares.
The buyback program targets the repurchase of 150 million shares, with a maximum aggregate purchase price of €900 million. It began on November 25, 2024, and is set to conclude by December 31, 2025.
Following the recent transaction, Nokia Corporation holds a total of 242,303,874 treasury shares. The repurchase was conducted on the trading venue XHEL and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia, a B2B technology innovation leader, is recognized for creating networks that offer high performance and create opportunities for monetization and scale. The company’s commitment to secure, reliable, and sustainable networks is trusted by service providers, enterprises, and partners globally. Nokia continues to push the boundaries of technology with its long-term research and intellectual property, spearheaded by the Nokia Bell Labs, which celebrates a century of innovation.
This latest share repurchase activity is based on a press release statement from Nokia Corporation.
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