Nokian Tyres, a Finnish company listed on the Helsinki Stock Exchange, has announced its intention not to cease operations in Russia following the country's invasion of Ukraine. The decision has been met with strong criticism, in which Mandatum has also been highlighted.
The list of Nokian Tyres’ shareholders that has been circulating in social and other media is outdated for Mandatum’s part.
As a result of the escalation of the situation in Ukraine we conducted a thorough analysis of all our portfolios, based on which we made the decision to discontinue our ownership of certain assets. As a result, all Mandatum’s own balance sheet holdings in Nokian Tyres shares were reduced to zero during the first half of March, together with a number of other investments exposed to the conflict. We anticipate that Nokian Tyres’ shareholder list will be updated with this information in the beginning of April.
Additional information:
Ville Talasmäki, CIO, Mandatum Asset Management, ville.talasmaki@mandatumam.com, +358 50 597 0046
Niina Riihelä, Vice President, Marketing & Communications, Mandatum-konserni, niina.riihela@mandatumlife.fi, +358 40 728 1548