ESPOO, Finland - Nokia (HE:NOKIA) Corporation (LEI: 549300A0JPRWG1KI7U06) has completed another transaction in its ongoing share repurchase program, acquiring 1,336,347 of its own shares on Monday. The shares were bought back at an average price of €4.79 per share, amounting to a total cost of approximately €6.4 million.
This recent transaction is part of a broader buyback initiative announced on November 22, 2024, designed to mitigate the dilutive impact of new shares issued in connection with the acquisition of Infinera (NASDAQ:INFN) Corporation and related share-based incentives. The repurchase program, which was authorized by Nokia’s Annual General Meeting on April 3, 2024, began on November 25, 2024, and is set to conclude by December 31, 2025. The plan targets the repurchase of 150 million shares for a maximum aggregate purchase price of €900 million.
Following the latest transactions, Nokia now holds 251,793,006 treasury shares in total. The repurchases are being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052, which ensure regulatory compliance.
Nokia, a global leader in B2B technology innovation, is known for its contributions to mobile, fixed, and cloud networks. The company is also noted for its intellectual property and long-term research initiatives, particularly through the Nokia Bell Labs, which boasts a century of innovation. Nokia's open architecture networks are designed to integrate seamlessly into various ecosystems, providing secure and sustainable solutions for service providers, enterprises, and partners around the world.
The information in this article is based on a press release statement from Nokia Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.