ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) reported that on Wednesday, it purchased 872,093 of its own shares at an average price of €4.02 per share. This transaction is part of a broader share buyback program announced on November 22, 2024, which aims to offset the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for Infinera's share-based incentives.
The buyback program, which complies with the Market Abuse Regulation and the Commission Delegated Regulation, began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia's goal is to repurchase up to 150 million shares for a maximum total cost of €900 million. The cost of the transactions on Wednesday totaled €3,502,064.
Following the latest transactions, Nokia now holds 209,033,034 treasury shares. This move is under the authorization given by Nokia’s Annual General Meeting held on April 3, 2024.
Nokia, a B2B technology innovation leader, is known for developing networks with the capacity to sense, think, and act, building on its extensive work across mobile, fixed, and cloud networks. The company, which also focuses on intellectual property and long-term research through its Nokia Bell Labs, aims to provide networks that are secure, reliable, and sustainable.
The information for this article is based on a press release statement from Nokia Corporation.
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