ESPOO, Finland — Nokia (HE:NOKIA) Corporation has successfully concluded its share buyback program that was initially announced on March 18, 2024, and subsequently expanded on July 19, 2024. The company has repurchased a total of 157,646,220 of its own shares, with the average price per share being approximately €3.81. This buyback activity took place between March 20, 2024, and November 21, 2024.
The completion of this program has resulted in a reduction of the company's unrestricted equity by €600 million. Nokia now possesses a total of 209,702,510 treasury shares. The shares were acquired through directed repurchases, which were carried out via public trading on the regulated market of Nasdaq Helsinki, as well as on selected multilateral trading facilities.
Nokia anticipates that the acquired shares will be canceled in December 2024. The cancellation of these shares is a common practice following a buyback, as it can potentially increase the value of the remaining shares by reducing the total number in circulation.
Nokia is widely recognized as a B2B technology innovation leader, focusing on pioneering networks that are capable of sensing, thinking, and acting. The company emphasizes its commitment to creating technology that facilitates global cooperation. Nokia's expertise spans mobile, fixed, and cloud networks, and it is known for its value creation through intellectual property and long-term research, notably from the esteemed Nokia Bell Labs.
The company's approach to network architecture is designed to be truly open, allowing seamless integration into various ecosystems. Nokia's high-performance networks are built to unlock new monetization opportunities and scalability for service providers, enterprises, and partners around the world. These stakeholders trust Nokia for secure, reliable, and sustainable networks that not only meet today's demands but also collaborate with the company to develop the digital services and applications of the future.
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