European institutional investor acquires 3% of TrustBuddy
Stockholm, 2013-07-02 08:58 CEST (GLOBE NEWSWIRE) --
TrustBuddy is proud to welcome another institutional investor as a shareholder, after a successful placement of 8 million shares at a premium over the current market price, at SEK 1.10. The placement is done as a sale of shares from the founders. The proceeds from the sale will be fully re-injected into the funding investment side of TrustBuddy to leverage the strong business increase the company is experiencing.
As a direct result of the stronger than expected growth in TrustBuddy's P2P finance platform, the continuously increasing gap created by a stronger growth in lending than in funding investments has become a restriction in further growth. To counter this effect, three of the main shareholders have agreed to invest 8.8 million in TrustBuddy's funding capital product, sourced from the sale of shares as described above. This will increase TrustBuddy's deposit capacity to meet the accelerated lending demand in the short term, while additional deposit sourcing is being finalized, and will allow TrustBuddy to grow even faster than expected.
The three shareholders selling shares are all primary insiders, and are as follows:
Jens B. Glasø (through JAC Invest AS) selling 2,000,000 shares, Rune Glasø (through RUGL AS) selling 2,000,000 shares, Trond R Ramslie (through Cryptonomonus) selling 1,500,000 shares, and Baard Bjerkaas (through Janus Invest AS), selling 2,500,000 shares, a total of 8 million shares at SEK 1.10.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ) +47 40 40 47 50, email@example.com
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.