ESPOO, Finland – Nokia (HE:) Corporation (LEI: 549300A0JPRWG1KI7U06) completed the repurchase of its own shares on Wednesday as part of an ongoing program to mitigate the dilutive impact of share distributions related to the acquisition of Infinera (NASDAQ:) Corporation. The company acquired a total of 872,093 shares at a weighted average price of EUR 4.45 per share, which amounts to a total cost of approximately EUR 3.88 million.
The buyback initiative, which began on November 25, 2024, follows the approval of Nokia’s Annual General Meeting on April 3, 2024 and is in compliance with the Market Abuse Regulation and Commission Delegated Regulation governing such transactions. The program aims to repurchase 150 million shares at a maximum total purchase price of EUR 900 million, with a deadline of December 31, 2025.
This strategic move follows Nokia’s announcement on November 22, 2024, detailing the start of a share buyback program. The program is designed to neutralize the potential dilutive effect of newly issued Nokia shares granted to shareholders of Infinera Corporation and as part of share-based incentives.
After the transactions announced today, the treasury of Nokia Corporation holds a total of 229,091,173 shares. Details of the transactions, including specific prices and volumes for each trade, were provided as an appendix to the company’s press release.
Nokia, a global leader in B2B technology innovation, is recognized for developing networks with the ability to feel, think and act. Leveraging its expertise in mobile, fixed and cloud networks, Nokia is committed to developing sustainable and secure high-performance networks. The company, together with its award-winning Nokia Bell Labs, continues to focus on long-term research and intellectual property to drive future digital services and applications.
Information about the share buyback is based on a press release issued by Nokia Corporation.
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