ESPOO – Nokia Oyj (HE:) (NYSE:NOK), a Finnish telecommunications company, announced on Monday that it has purchased 872,093 of its own shares at a weighted average price of EUR 4.29 per share. This transaction is part of an ongoing stock repurchase program initiated to offset the dilutive effect of shares issued to shareholders of Infinera (NASDAQ:) Corporation and to offset certain stock-based incentives.
The buyback program, in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052, started on November 25, 2024, following the approval of the company’s management on November 22. , 2024 and the approval of the shareholders at the annual meeting held on April 3, 2024. The program will last until December 31, 2025, with the aim of acquiring up to 150 million shares, using a maximum of EUR 900 million.
As of today, the total cost of purchased shares is EUR 3,745,378. Following these recent transactions, Nokia Oyj now holds 221,242,336 of its own shares.
The acquisition is in line with Nokia’s strategy as a B2B leader in technology and innovation, focusing on the development of future-oriented intelligent network solutions. The company, known for its expertise in fixed line, mobile and cloud services networks, continues to create value through intellectual property rights and award-winning research and development efforts led by Nokia Bell Labs.
Service providers, enterprises and partners around the world trust Nokia’s commitment to high-performance, responsive and secure network solutions. The company’s network solutions are designed for seamless integration into diverse ecosystems, facilitating new commercialization and scaling capabilities.
This latest financial move is based on a press release from Nokia Oyj and is part of the company’s broader financial strategy.
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