ESPOO - Nokia Oyj (HEL:HE:NOKIA) has repurchased its own shares on Wednesday, as part of a buyback program aimed at mitigating the dilutive effect of stock distributed to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives related to the Infinera transaction. The Finnish telecommunications company acquired a total of 872,093 shares at an average weighted price of €4.02 per share, amounting to a total expenditure of €3.5 million.
The share buyback initiative, which was announced on November 22, 2024, is being conducted under the European Market Abuse Regulation (EU) 596/2014, the European Commission's delegated regulation (EU) 2016/1052, and the authorization granted by Nokia's Annual General Meeting on April 3, 2024. The program commenced on November 25, 2024, and is set to conclude by December 31, 2025, at the latest. Nokia's goal is to acquire 150 million shares with a maximum total spend of €900 million.
Following the latest transactions, Nokia now holds 209,033,034 of its own shares. These repurchases are part of Nokia's broader strategy to manage the company's capital structure and to return value to shareholders. The details of the purchases are disclosed as an annex to the company's press statement.
Nokia is recognized as a leader in B2B technology and innovation, with a focus on creating network solutions that are intelligent and responsive to future needs. The company's position is underpinned by its expertise in fixed, mobile, and cloud service networks, as well as its value creation through intellectual property rights and its commitment to long-term research and development with the award-winning Nokia Bell Labs.
This information is based on a press release statement from Nokia Oyj.
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