Nokia Corporation: Share Repurchase Program
Stock Exchange Release
16 December 2024 at 22:30 EET
Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has announced the repurchase of its own shares (ISIN FI0009000681) on 16 December 2024. The details of the repurchase are as follows:
Trading venue (MIC Code): XHEL
Number of shares: 859,289
Weighted average price / share, EUR: 4.25
On 22 November 2024, Nokia revealed that its Board of Directors had initiated a share buyback program to counteract the dilution caused by the issuance of new Nokia shares to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The share repurchases are being conducted in accordance with the Market Abuse Regulation (EU) 596/2014, the Commission Delegated Regulation (EU) 2016/1052, and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024. The buyback program commenced on 25 November 2024 and is set to conclude by 31 December 2025. Nokia aims to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.
Impact on Individuals
As a shareholder of Nokia Corporation, the share repurchase program could potentially lead to an increase in the value of your shares. By reducing the number of outstanding shares in the market, the buyback may enhance the earnings per share and overall shareholder value.
Global Implications
The share repurchase program undertaken by Nokia Corporation could have broader implications for the global market. By reducing the number of outstanding shares and boosting shareholder value, Nokia may attract more investors and strengthen its position in the telecommunications industry. This could positively impact the overall economy and investor confidence worldwide.
Conclusion
In conclusion, Nokia Corporation’s share repurchase program signifies a strategic move to enhance shareholder value and counteract dilution. By actively managing its share capital, Nokia aims to drive growth and strengthen its position in the global market. The impact of this program on individuals and the world at large highlights the significance of corporate actions in shaping the financial landscape.
