Nokia Corporation, the Finnish telecom giant, has announced that it has purchased its own shares as part of its ongoing share buyback program. The program, which was initiated in February 2022, aims to return up to 600 million euros of cash to shareholders in tranches over a period of two years.

According to a stock exchange release issued on June 27, 2023, Nokia Corporation has acquired 376,000 shares (ISIN FI0009000681) at an average price of 3.74 euros per share, totaling 1,406,879.20 euros. The shares were bought from various trading venues using the authorization granted by Nokia’s Annual General Meeting on April 5, 2022.

The second phase of the share buyback program, which is 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 April 5, 2022, started on January 2, 2023 and ends at the latest by December 21, 2023 with a maximum aggregate purchase price of 300 million euros.

After the disclosed transactions, Nokia Corporation holds 71,960,455 treasury shares. Details of transactions are included as an appendix to the stock exchange release. On behalf of Nokia Corporation, BNP Paribas Exane acted as the lead manager for the share buyback program. Nokia Corporation is a leading global provider of technology that helps the world act together. It offers innovative solutions for mobile, fixed and cloud networks, as well as intellectual property and long-term research through its award-winning Nokia Bell Labs.

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