ESPOO, Finland – Nokia (HE:) Corporation (NYSE:NOK) announced on Friday the repurchase of 875,685 of its own shares, an action taken as part of its current share repurchase program. The shares were bought at an average price of EUR 4.27 per share, and the total cost of the transaction was EUR 3,740,926.
The repurchase program, which began on November 25, 2024, is part of a strategy to balance the dilutive impact of the issuance of new shares to shareholders of Infinera Corporation (NASDAQ: ) and for certain stock-based incentives following the corporate action announced on November 22, 2024. would continue until December 31, 2025, with the aim of acquiring 150 million shares at a maximum total purchase price of 900 million euros.
After the latest transaction, Nokia’s treasury now contains 220,370,243 shares. The recall initiative is compliant with the Market Abuse Regulation (MAR) and the Commission Delegated Regulation, acting under the authority granted by Nokia’s Annual General Meeting held on 3 April 2024.
Nokia, a recognized leader in B2B technology innovation, is known for its advanced network solutions and long-term research contributions, particularly through the renowned Nokia Bell Labs. The company focuses on developing networks capable of sensing, thinking and acting, and on creating value through its intellectual property.
The information in this article is based on a press release from Nokia Corporation.
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