Stock Exchange: Nokia’s ASN deal receives moderately positive price reaction

On Thursday afternoon, the Helsinki stock exchange, like the rest of Europe, was experiencing a slight decline. However, the OXMH general index’s decline had decreased from 0.3 percent in the morning to 0.1 percent. Nordic stock was down by 0.3 percent while Nokian had increased by 0.7 percent. Wärtsilä saw a significant increase of 1.5 percent in trading.

Nokia announced that it was selling submarine cables ASN to the French state. As part of the deal, Nokia will retain a 20 percent ownership stake in ASN and representation on the board until the agreed period ends, aimed at ensuring a smooth transition. The deal is expected to be completed by the end of 2024 or early 2025.

Optomed, a manufacturer of fundus cameras, conducted a directed share issue, issuing 150,000 new shares at a subscription price of EUR 5.25. The company raised approximately EUR 7.9 million in gross proceeds from the issue. However, the share price of Optomed fell to EUR 6.09, resulting in a 13.7 percent reduction in the subscription price.

Saga Furs reported a decline in turnover and operating results in its half-year report for the fiscal year from November to April. The company stated that the financial year’s outcome hinges on the success of the September auction, which is uncertain due to market conditions. US Index futures were slightly lower in anticipation of the stock market opening for Wall Street.

In other news, there were discussions on various forums regarding acquiring a crypto license in different countries such as Estonia, Portugal, and the UK. Additionally, topics ranged from methods of relieving stress to discussions about cars and career development.