ESPOO - Nokia Oyj (HE:NOKIA) (NYSE:NOK), the Finnish telecommunications company, announced on Monday that it has purchased 872,093 of its own shares at a weighted average price of €4.29 per share. This transaction is part of an ongoing share buyback program initiated to offset the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and to compensate for certain stock-based incentives.
The buyback program, compliant with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052, began on November 25, 2024, following authorization by the company’s board on November 22, 2024, and approval by the shareholders at the annual general meeting held on April 3, 2024. The program is set to run until December 31, 2025, with the objective of acquiring up to 150 million shares, using a maximum total of €900 million.
As of today, the total cost of the repurchased shares amounts to €3,745,378. Following these recent transactions, Nokia Oyj now holds 221,242,336 of its own shares.
The buyback aligns with Nokia's strategy as a B2B technology and innovation leader, focusing on the development of future-oriented, intelligent network solutions. The company, known for its expertise in fixed, mobile, and cloud service networks, continues to create value through intellectual property rights and the awarded research and development efforts led by Nokia Bell Labs.
Nokia's commitment to high-performance, responsible, and secure network solutions is trusted by service providers, enterprises, and partners globally. The company's network solutions are designed to integrate seamlessly into various ecosystems, facilitating new commercialization and scaling opportunities.
This latest financial move is based on a press release statement from Nokia Oyj and is part of the company's broader financial strategy.
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