ESPOO, Finland – Nokia (HE:) Corporation (LEI: 549300A0JPRWG1KI7U06) has purchased 872,093 of its own shares at an average price of €3.99 per share on Monday, as part of a broader initiative to offset dilution from recent share issuances. The transactions, conducted on the Helsinki Stock Exchange (XHEL), amounted to a total cost of €3,480,000.
The buyback program was announced on November 22, following the issuance of new shares to Infinera (NASDAQ:) Corporation shareholders and for Infinera share-based incentives. The program, which is in accordance with Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, aims to repurchase up to 150 million shares for an aggregate maximum price of €900 million. Initiated on November 25, the program is set to continue until December 31, 2025.
After the completion of the transactions on Monday, Nokia’s treasury now holds 364,935,068 shares. The buyback aligns with the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
The Finnish multinational corporation is recognized as a leader in B2B technology innovation, with a focus on pioneering network solutions across mobile, fixed, and cloud networks. Nokia’s approach emphasizes open architectures that integrate into various ecosystems, offering high-performance network solutions that are secure, reliable, and sustainable. The company’s long-term research efforts are spearheaded by the Nokia Bell Labs, which has received numerous accolades for its contributions to technology.
This share repurchase is part of Nokia’s strategy to manage its capital structure and deliver value to shareholders. The information disclosed is based on a press release statement from Nokia Corporation.
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