ESPOO - Nokia Oyj (HEX:HE:NOKIA) has announced the acquisition of 872,093 of its own shares on January 21, 2025, as part of an ongoing share buyback initiative. The shares, traded on the Helsinki Stock Exchange (XHEL), were bought at a weighted average price of €4.45 per share, totaling approximately €3.88 million.
The buyback program, which commenced on November 25, 2024, is designed to mitigate the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related incentive plans following a corporate action. The program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and based on the authorization granted by Nokia's Annual General Meeting on April 3, 2024.
Nokia's board had previously announced on November 22, 2024, the intention to repurchase up to 150 million shares with a maximum aggregate investment of €900 million. The program is scheduled to run through December 31, 2025, or until the target number of shares is acquired.
Following the latest transaction, Nokia now holds a total of 232,579,545 treasury shares. The details of these acquisitions are attached to the press release statement.
Nokia, a global leader in B2B technology and innovation, specializes in the development of advanced network solutions. The company is recognized for its contributions to fixed, mobile, and cloud networking, and its work is supported by the intellectual property and research conducted by the renowned Nokia Bell Labs.
This share buyback activity is part of Nokia's broader strategy to optimize shareholder value and reflects the company's confidence in its financial stability and future prospects. The information reported is based on a press release statement from Nokia Oyj.
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