ESPOO, Finland – Nokia (HE:) Corporation (NYSE:NOK) completed the purchase of its own shares on Monday, as part of a broader buyback program aimed at offsetting the dilutive effect of recent share issuances. The company acquired a total of 872,093 shares at an average price of EUR 4.29 per share on the Helsinki Stock Exchange (XHEL).
This transaction is part of a share repurchase initiative announced on November 22, 2024 approved by Nokia’s Board of Directors to counter the dilutive effect of new shares issued to shareholders of Infinera (NASDAQ:) Corporation and for certain Infinera stock-based incentives. The buyback program, in accordance with relevant EU market abuse regulations, began on November 25, 2024, with an end date set for December 31, 2025. Nokia’s objective is to repurchase up to 150 million shares, with a maximum aggregate purchase price of 900 million euros.
Total expenses for transactions on December 30 amounted to about 3.75 million euros. Following these transactions, Nokia now holds 221,242,336 of its own shares.
Nokia’s buyback program is part of its capital allocation strategy and reflects its commitment to maintaining a strong balance sheet while delivering shareholder value. Redemptions are carried out within the limits of the authorization given at the General Meeting of Shareholders held on April 3, 2024.
Nokia is a global technology leader focused on network infrastructure and the development of advanced technologies in mobile, fixed and cloud networks. The company is recognized for its innovations in this field, much of which is driven by Nokia Bell Labs, its research and development division.
The information on the share buyback is based on a press release issued by Nokia Corporation.
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