Nokia Corporation: Repurchase of Own Shares

Stock Exchange Release: 3 December 2024 at 22:30 EET

Espoo, Finland – On 3 December 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

Trading venue (MIC Code): XHEL

Number of shares: 872,093

Weighted average price / share, EUR: 4.01

On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

This strategic move by Nokia aims to enhance shareholder value and strengthen the company’s financial position. By reducing the number of outstanding shares through the buyback program, Nokia seeks to boost its earnings per share and signal confidence in its long-term growth prospects.

Investors will likely view this share repurchase positively, as it demonstrates Nokia’s commitment to maximizing shareholder returns and capitalizing on its strong cash position. The buyback program also signals to the market that Nokia believes its stock is undervalued, leading to potential share price appreciation in the future.

How will this affect me?

As a Nokia shareholder, the share repurchase program may lead to an increase in the value of your holdings. The buyback can result in higher earnings per share and a more efficient allocation of capital, ultimately benefiting investors through enhanced returns.

How will this affect the world?

Nokia’s share repurchase program can have broader implications for the global market. By signaling confidence in its business strategy and financial stability, Nokia’s actions may have a positive impact on investor sentiment and contribute to overall market confidence. Additionally, the buyback program underscores Nokia’s commitment to creating value for shareholders and maintaining a competitive edge in the technology industry.

Conclusion

In conclusion, Nokia’s repurchase of its own shares is a strategic move aimed at enhancing shareholder value and instilling confidence in the company’s growth trajectory. This initiative not only benefits investors through potential share price appreciation but also sends a strong signal to the market about Nokia’s financial strength and long-term prospects.