ESPOO, Finland – Nokia (HE:) Corporation (NYSE:NOK) completed its share buyback on Thursday, as part of its effort to mitigate the impact of a reduction in new share issuance. The company acquired a total of 872,093 shares at a weighted average price of €4.04 per share, for an estimated total cost of €3,522,558.
The purchase plan was also announced on November 22, 2024, following the issuance of new shares to shareholders of Infinera (NASDAQ:) Corporation and other related stock-based incentives. The repurchase program, carried out under the approval of Nokia’s Annual General Meeting held on April 3, 2024, began on November 25, 2024, and will end on December 31, 2025. The program aims to repurchase 150 million shares. with a maximum combined purchase price of 900 million euros.
This measure is in line with Market Abuse Regulation (EU) 596/2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052. After Thursday’s transaction, Nokia owns 209,905,127 shares of the stock.
Nokia, a global leader in B2B technology innovation, is known for building networks that can hear, think, and act. The company’s work includes mobile, fixed, and cloud networks. Nokia Bell Labs, their research arm, has been recognized for its long-term research contribution. The company’s open architecture is designed to fit seamlessly into diverse ecosystems, providing high-performance networks that enable monetization and scalability for service providers, enterprises, and partners around the world.
The share repurchase is an important step for Nokia to manage its capital structure and shareholder value following the merger of Infinera Corporation. This information is based on a press release from Nokia Corporation.
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