Nokia Resolves on 150 Million Share Issuance Amid Infinera Acquisition
Deal News | Nov 22, 2024 | EIN
Nokia's Board of Directors has resolved to issue 150 million new shares in a strategic move to support its acquisition of Infinera Corporation. The shares, issued without consideration, will be used to satisfy obligations under the Merger Agreement dated 27 June 2024. The shares are expected to be registered with the Finnish Trade Register by 25 November 2024. Following registration, Nokia's total share count will increase to over 5.76 billion shares. These shares will be utilized to deliver American Depositary Shares to eligible Infinera stockholders upon completion of the merger. Any shares not needed for the merger will be directed towards participants in Nokia's and Infinera's equity programs, pending merger completion. This directive is based on the authorization granted during the Annual General Meeting on 3 April 2024.
Sectors
- Telecommunications
- Technology
Geography
- Finland – Nokia is based in Espoo, Finland, and the share registration will occur in the Finnish Trade Register.
- United States – Infinera Corporation, the acquisition target, is based in the United States, highlighting transatlantic business activities.
Industry
- Telecommunications – Nokia operates in the telecommunications industry, developing mobile, fixed, and cloud networks, which is central to the business and strategic growth discussed in the article.
- Technology – The acquisition of Infinera Corporation, which is within the technology sector specializing in advanced optical communications, affects both Nokia's strategic plans and the broader industry landscape.
Financials
- 150,000,000 – Number of new shares Nokia plans to issue to execute the merger with Infinera.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nokia Corporation | Issuer and Acquirer | Company | A multinational telecommunications and technology company responsible for the strategic share issuance to complete the acquisition of Infinera. |
| Infinera Corporation | Target Company | Company | A U.S.-based optical communications technology provider being acquired by Nokia. |
| Neptune of America Corporation | Participant in Merger Agreement | Company | Involved in the merger agreement alongside Nokia and Infinera, playing a role in the acquisition process. |
| Finnish Trade Register | Regulatory Body | Government | Handles the registration of Nokia's newly issued shares as part of the acquisition strategy. |
| Euroclear Finland Ltd | Settlement System | Company | Maintains the book-entry system for Nokia's share registration. |
| Nasdaq Helsinki | Stock Exchange | Company | Market where Nokia shares are traded, including the newly issued shares for acquisition purposes. |
| Euronext Paris | Stock Exchange | Company | Facilitates trading of Nokia shares in Paris following the issuance. |