ESPOO – Nokia Oyj (HEL:HE:NOKIA) has completed another step in its share buyback program, acquiring 872,093 of its own shares on Monday, at a weighted average price of €4.43 per share, totaling approximately €3.87 million. This move is part of a broader effort announced on November 22, 2024, to mitigate the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related equity incentives.
The buyback program, which complies with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, is executed under the authorization of Nokia's Annual General Meeting held on April 3, 2024. The program began on November 25, 2024, and is set to conclude by December 31, 2025, with the goal of acquiring 150 million shares using a maximum of €900 million.
Following the latest transaction, Nokia now holds 236,903,084 of its own shares. The buyback program is part of the company's capital allocation strategy and reflects its commitment to delivering value to shareholders.
Nokia, a leader in B2B technology and innovation, is recognized for its contributions to fixed, mobile, and cloud networking solutions. The company is also known for its value creation through intellectual property rights and its pioneering work in future network solutions, guided by the award-winning research and development of Nokia Bell Labs.
The information for this report is based on a press release statement.
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