Nokia Wraps Up Share Buyback Program to Enhance Shareholder Value
Nokia Concludes Share Buyback Initiative
Nokia Corporation has successfully completed its share buyback initiative, which was announced as a strategy to offset the dilutive effects linked to a significant acquisition. The program, active from late November until early April, aimed to strengthen shareholder value in light of corporate restructuring.
Program Overview and Execution
Throughout this period, Nokia repurchased a total of 150 million shares at an average price of around EUR 4.69. The strategy was designed to help mitigate any potential dilution resulting from the acquisition of Infinera. The decision to buy back shares reflects Nokia's commitment to maintaining a robust equity structure while providing investors with confidence in its future trajectory.
Impact on Equity and Treasury Shares
As a result of the buyback program, Nokia's unrestricted equity was reduced by approximately EUR 703 million. This strategic maneuver also led the company to amass a total of 220,509,131 treasury shares, positioning itself for upcoming corporate actions.
Directed Repurchases and Market Activity
The shares were acquired through a series of directed repurchases, meaning they were purchased independently of the existing holdings of current shareholders. This approach underscores Nokia's tailored strategy to effectively manage its capital and respond to market dynamics, particularly through transactions executed on the Nasdaq Helsinki and other recognized trading platforms.
About Nokia and Its Innovative Solutions
Nokia stands out as an innovation leader in B2B technology, consistently devising solutions that empower global connectivity. The company focuses on creating high-performance networks that can sense, think, and react, leveraging technologies across mobile, fixed, and cloud platforms. With a commitment to research and development led by the notable Nokia Bell Labs, Nokia has been at the forefront of tech innovations for a century.
Empowering Partnerships and Future Ventures
Nokia champions open architectures that facilitate easy integration across various ecosystems. This approach generates opportunities for enhancing service monetization while ensuring scalability. Businesses, service providers, and partners worldwide depend on Nokia to establish secure and reliable networks today, embracing collaborative efforts to develop future digital services and innovations.
Contact Information for Inquiries
For further information, please reach out to Nokia Communications at:
Phone: +358 10 448 4900
Email: press.services@nokia.com
Contact: Maria Vaismaa, Global Head of External Communications
For investor relations, connect with: Nokia Investor Relations
Phone: +358 931 580 507
Email: investor.relations@nokia.com
Frequently Asked Questions
What was the purpose of the Nokia share buyback program?
The program aimed to offset the dilution from the Infinera acquisition.
How many shares did Nokia repurchase?
Nokia repurchased a total of 150 million shares during the buyback initiative.
At what average price were the shares bought back?
The average purchase price for the shares was approximately EUR 4.69.
What impact did the buyback program have on Nokia's equity?
The program reduced Nokia's unrestricted equity by about EUR 703 million.
How can stakeholders contact Nokia for more information?
Stakeholders can reach Nokia Communications at +358 10 448 4900 or via email at press.services@nokia.com for inquiries.
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