On Thursday, Shares of Nokia Corporation (ADR) (NYSE:NOK), lost -1.47% to $6.68, as Nokia Corporation (Nokia) invests in technologies. The Company operates through three business segments: Nokia Networks, HERE and Nokia Technologies.
According to news report, Nokia Corporation (NOK) declared that Nokias Board of Directors has resolved on a directed issuance of a maximum amount of 141 581 Nokia shares (NOKIA) held by the company to Nokia employees participating in the Employee Share Purchase Plan 2014. The one-year cycle of the Employee Share Purchase Plan 2014 ended on July 31, 2015.
Under the terms and conditions of the Employee Share Purchase Plan 2014 Nokia will offer one matching share for every two shares purchased under the plan which the participant still held as at July 31, 2015. The shares are issued without consideration. As the issued shares are held by the company, the total number of the companys outstanding shares does not change as a consequence of the share issuance. The shares will be delivered to the employees in October 2015.
The Board of Directors approved the launch of the Employee Share Purchase Plan 2014 as part of the Nokia Equity Program 2014 on February 14, 2014 to encourage employee share ownership, commitment and engagement. The resolution to issue shares is based on the authorization granted to the Board by the Annual General Meeting on May 5, 2015.
The stock closed its last trade at $6.68. The market capitalization for the company is reported at $24.36B.
Looking at other metrics of the stock, we find that latest closing price of $6.68 is at a discount to its 200-day moving average price of $7.00. Its intraday range has been $6.60 to $6.74; it is trading at discount as compared to its 52-week high of $8.58 achieved on Oct 6, 2014, and a premium to its 52-week low of $5.71 faced on Aug 24, 2015. Turning to market valuation, the P/S ratio is 1.65. The stock is down -12.90% in this year through last close, and the beta ratio has a value of 1.64. The stock, as of recent close, has shown weekly upbeat performance of 0.30%, in opposition to 9.33% in 1-month period.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally. The company operates through four segments: Mobile Broadband, Global Services, HERE, and Nokia Technologies. The Mobile Broadband offers network solutions for mobile voice and data services through its Radio and Core clusters for mobile operators.
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