ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Monday, at an average price of €4.18 per share, as part of its ongoing share buyback program. The transactions, conducted on the Helsinki Stock Exchange (XHEL), amounted to a total cost of approximately €3.645 million.
The company's buyback initiative, which began on November 25, 2024, is in response to the issuance of new shares to Infinera (NASDAQ:INFN) Corporation shareholders and to offset dilutive effects from Infinera's share-based incentives. The program, authorized by Nokia's Annual General Meeting on April 3, 2024, is set to continue until December 31, 2025, targeting the repurchase of 150 million shares with a maximum aggregate purchase price of €900 million.
Following the recent transactions, Nokia Corporation's treasury now holds a total of 210,777,220 shares. The buyback aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia, a leader in B2B technology innovation, is known for developing networks that are capable of sensing, thinking, and acting. The company's efforts span mobile, fixed, and cloud networks, and it is recognized for its intellectual property and long-term research, notably through the Nokia Bell Labs. Nokia's open architectures are designed to integrate into various ecosystems, offering high-performance networks that enable monetization and scalability opportunities for service providers, enterprises, and partners globally.
The information about Nokia's share repurchase is based on a press release statement from the company.
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