ESPOO – Finnish telecommunications company Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has announced the acquisition of 1.4 million of its own shares on February 14, 2025, at a weighted average price of €4.78 per share. This transaction is part of a share buyback initiative aimed at mitigating the dilutive effect of shares to be issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives of Infinera Corporation.
The buyback program, which began on November 25, 2024, is being conducted 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. The program is set to run until December 31, 2025, or until 150 million shares have been repurchased, whichever occurs first. The total amount allocated for the buyback is up to €900 million.
The total cost for the purchases made on February 14 amounted to €6,692,140. Following these transactions, Nokia Oyj now holds 249,209,658 of its own shares.
Nokia is a leader in B2B technology and innovation, specializing in the development of intelligent network solutions for the future. The company's position is built upon expertise in fixed, mobile, and cloud networking services, as well as value creation through intellectual property rights and sustained research and development, led by the award-winning Nokia Bell Labs for over 100 years. Nokia's efficient network solutions, based on open architecture, seamlessly integrate into various ecosystems, facilitating new opportunities for network commercialization and scalability. Service providers, enterprises, and partners globally rely on Nokia's network performance, responsibility, and security standards.
This share repurchase update is based on a press release statement from Nokia Oyj.
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