ESPOO – Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 1,221,522 of its own shares on Monday, the company announced, as part of a buyback program initiated to mitigate the dilution effect from stock incentives and shares issued to Infinera (NASDAQ:INFN) Corporation shareholders. The transactions, conducted on the Helsinki Stock Exchange (XHEL), were executed at an average weighted price of €4.52 per share, totaling €5,526,288.
The buyback program, which commenced on November 25, 2024, follows the authorization by Nokia’s Annual General Meeting on April 3, 2024, and is in line with the EU Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. It is set to run until December 31, 2025, or until 150 million shares have been repurchased, with a maximum allocation of €900 million.
Following the latest transaction, Nokia holds 238,124,606 of its own shares. The repurchase plan aims to counterbalance the dilutive impact of equity incentives for Infinera’s shareholders and certain stock-based incentives.
Nokia, a leader in B2B technology and innovation, focuses on developing future-oriented intelligent network solutions through its fixed, mobile, and cloud services networks. The company prides itself on its performance, sustainability, and security standards, which are trusted by service providers, enterprises, and partners worldwide.
This news is based on a press release statement from Nokia.
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