ESPOO – Finnish telecommunications company Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) announced on Wednesday that it has continued its share repurchase initiative, acquiring a total of 872,093 of its own shares at a weighted average price of €4.48 per share. This transaction took place on the Helsinki Stock Exchange (XHEL), with the total cost amounting to €3,907,587.
The buyback is part of a program that was initiated on November 25, 2024, following a November 22, 2024, announcement by the company. The program is intended to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and to counteract the dilution from certain stock-based incentives related to Infinera Corporation. The buyback is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and under the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
The goal of the program is to acquire up to 150 million shares, with a maximum total expenditure of €900 million, to be completed by December 31, 2025. After the recent acquisition, Nokia now holds a total of 224,730,708 of its own shares.
Nokia is a leader in B2B technology and innovation, focusing on the development of intelligent network solutions for the future. The company's position is underpinned by expertise in fixed, mobile, and cloud services networks, and it leverages intellectual property rights and research and development led by the award-winning Nokia Bell Labs.
The company's high-performance network solutions are designed to integrate seamlessly with various ecosystems, enabling new commercialization and scaling opportunities for service providers, enterprises, and partners worldwide.
This latest development in Nokia's share buyback program is based on a press release statement from the company.
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