ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed the acquisition of 1.4 million of its own shares on Friday, with the transactions carried out on the Helsinki Stock Exchange (XHEL). The average price paid per share was €4.78, amounting to a total cost of €6,692,140 for the day's repurchase.
This move is part of a broader share buyback program announced on November 22, 2024, aimed at mitigating the dilutive impact of new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives following a corporate action. The program, authorized by Nokia's Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025. The company plans to repurchase up to 150 million shares with a maximum aggregate purchase price of €900 million.
Following the transactions disclosed for February 14, 2025, Nokia Corporation's treasury now holds 249,209,658 shares. The share buyback aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory compliance.
Nokia, a B2B technology innovation leader, continues to develop networks that are responsive and adaptive, leveraging its expertise in mobile, fixed, and cloud networks. The company also focuses on creating value through intellectual property and long-term research, with the centennial of its renowned Nokia Bell Labs highlighting a legacy of innovation. Nokia's commitment to open architectures allows for seamless integration into various ecosystems, offering service providers, enterprises, and partners around the world secure and sustainable networking solutions.
The information for this article is based on a press release statement issued by Nokia Corporation.
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