ESPOO – Nokia Oyj (HE:) (NYSE:NOK) reported on Friday that it has continued its share buyback initiative, acquiring a total of 875,685 of its own shares at an average price of EUR 4.27 per share on the Helsinki Stock Exchange (XHEL). ). The transaction is part of a broader repurchase program intended to mitigate the dilutive effect of shares issued to shareholders of Infinera (NASDAQ: ) Corporation and certain stock-based incentives.
The buyback program, which was announced on November 22, 2024, is being implemented in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), Commission Delegated Regulation (EU) 2016/1052 and as authorized by Nokia’s Annual General Meeting on April 3 2024. The program started on November 25, 2024 and is scheduled to end by December 31 2025, with the aim of acquiring up to 150 million shares using a maximum of EUR 900 million.
As of the last transaction on Friday, the total cost was €3,740,926, bringing Nokia’s total treasury shares to 220,370,243. The initiative is part of the Finnish telecommunications giant’s strategy to manage its capital structure and efficiently distribute value to its shareholders.
Nokia, a global leader in technology that connects people and things, is recognized for its innovations and contributions in the areas of fixed, mobile and cloud network solutions. The company prides itself on its commitment to performance, sustainability and security standards in its network offerings, serving service providers, enterprises and partners worldwide.
The information provided in this report is based on a press release from Nokia Oyj.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
