ESPOO - Finnish telecommunications company Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) announced on Monday that it has acquired a tranche of its own shares as part of its ongoing buyback program initiated to mitigate the dilutive impact of equity transactions related to the Infinera (NASDAQ:INFN) Corporation deal. The buyback, conducted on February 17, 2025, involved the purchase of 1,247,001 shares at a weighted average price of €4.80 per share, totaling approximately €5.99 million.
The buyback aligns with the authorization granted by Nokia's Annual General Meeting on April 3, 2024, and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The program commenced on November 25, 2024, and is set to conclude by December 31, 2025, with a target to acquire 150 million shares using a maximum of €900 million.
Following the recent acquisition, Nokia now holds 250,456,659 of its own shares. The buyback program is a strategic move by the company to offset the dilution caused by the issuance of shares to Infinera Corporation's shareholders and the impact of certain stock-based incentives.
Nokia, a leader in B2B technology and innovation, has a long-standing reputation for its contributions to fixed, mobile, and cloud networking solutions. With a century of creating value through intellectual property rights and the pioneering work of the celebrated Nokia Bell Labs, the company continues to be at the forefront of developing intelligent network solutions that seamlessly integrate into various ecosystems.
This buyback activity is part of Nokia's commitment to its stakeholders, ensuring performance, responsibility, and security standards in its network solutions that are trusted by service providers, enterprises, and partners globally.
The information for this report is based on a press release statement issued by Nokia.
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