ESPOO - Nokia Oyj (NYSE:NOK) has executed a share repurchase on February 5, acquiring 1.4 million shares at an average price of €4.53 per share, for a total transaction value of €6.34 million. This move is part of a broader share buyback program announced on November 22, 2024, aimed at mitigating the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain equity-based incentives.
The buyback aligns 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, which started on November 25, 2024, is set to conclude by December 31, 2025, with the goal of acquiring 150 million shares using a maximum of €900 million.
Following the recent transaction, Nokia now holds 239,524,606 of its own shares. The share repurchase is part of the company’s strategy to create value through its intellectual property rights and long-term research and development led by the award-winning Nokia Bell Labs.
Nokia, a leader in B2B technology and innovation, continues to pioneer future sensing, thinking, and intelligent network solutions. Its leadership is underpinned by expertise in fixed, mobile, and cloud service networks. The company is recognized for its high-performance network solutions that integrate seamlessly into various ecosystems, offering new commercialization and scaling opportunities.
Nokia’s commitment to performance, responsibility, and security standards is trusted by service providers, enterprises, and partners worldwide as they collaborate with the company to develop future digital services and applications. The information for this report is based on a press release statement.
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