ESPOO - Nokia Oyj (HEL:HE:NOKIA) has announced the purchase of 1,380,441 of its own shares on February 13, 2025, at a weighted average price of €4.76 per share. This recent transaction is part of the company’s share buyback program initiated on November 22, 2024, to mitigate the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related stock-based incentive plans.
The program, which is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024, commenced on November 25, 2024, and is set to conclude by December 31, 2025. Nokia’s objective is to acquire up to 150 million shares, with a maximum total expenditure of €900 million.
Following the latest buyback, Nokia now holds 247,809,658 of its own shares. The total cost for the shares acquired on February 13 amounts to €6,575,869.
The share repurchase is a strategic move by Nokia, a company known for its technology that connects the world. As a leader in B2B technology and innovation, Nokia has been at the forefront of creating networks that are responsive, intelligent, and capable of sensing and thinking. Its leadership is grounded in expertise in fixed, mobile, and cloud networking services. Nokia has been creating value through intellectual property rights and the award-winning research and development led by Nokia Bell Labs for over a century.
The Finnish telecom giant’s network solutions are designed to integrate seamlessly into various ecosystems, opening new opportunities for commercialization and scalability. Service providers, enterprises, and partners globally rely on the performance, responsibility, and security standards of Nokia’s networks.
This information is based on a press release statement from Nokia Oyj.
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