Ferratum Group: Dealings by CEO, Mr. Jorma Jokela
Helsinki, May 23, 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum") disclosed earlier today a manager's transaction notification to the Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA).
Ferratum announces that its founder and CEO, Mr. Jorma Jokela, has agreed to sell a total of 329,500 shares at a market price of 21.49 in Ferratum. 255,500 shares were sold to the J&W Global Fin-Tech Private Equity Fund (the "Fund") managed by J&W Partners Co., Ltd ("J&W Partners") and 74,000 shares to Danal Co., Ltd. ("Danal"). The shares were sold by European Recruitment Company OÜ, an entity wholly owned by Mr. Jokela.
Following the transactions, Mr. Jokela will directly and indirectly hold shares in Ferratum as follows:
| Name |
Position |
Holding prior to transaction |
% interest prior to transaction |
Shares sold |
Holding post transaction |
% interest post transaction |
| Jorma Jokela |
CEO |
12,417,470 |
57.16% |
329,500 |
12,087,970 |
55.64% |
J&W Partners, a private equity firm based in Seoul, South Korea was co-founded in 2014 by Mr. Christopher Wang, who joined the Board of Directors of Ferratum on May 4, 2017. The firm's professionals have particular interest and expertise in the financial sector (traditional and fintech) with financial and business networks throughout the Asia-Pacific region. Following the transaction, the Fund holds 373,817 shares, representing 1.72% of the total issued share capital of Ferratum.
Danal was established in 1997 in South Korea and listed on the KOSDAQ Market Division of the Korea Exchange in 2004. Danal first developed "BilltoMobile", which provides carrier-integrated mobile commerce solutions enabling the purchase of goods and services on PC, tablet, and mobile devices. In 2006, Danal established its US subsidiary (Danal Inc.) in the Silicon Valley, launching BilltoMobile services in the US with Verizon, Sprint, and T-Mobile. Danal also has business operations in China, Taiwan, Japan, and Europe. Following the transaction, Danal holds 74,100 shares, representing 0.34% of the total issued share capital of Ferratum.
Jorma Jokela commented:
"We have already built a strong network of business in Europe by making borrowing and mobile banking as easy and fast to use as possible. The Asian banking market is also evolving rapidly and we see this market as one of the most forward thinking and innovative digital consumer markets in the world.
We appreciate the growing international interest in Ferratum's equity story and welcome the support of all new investors, particularly those in regions of strategic importance to our long term ambitions."
About Ferratum Group:
Ferratum is an international provider of consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum is a pioneer in the fields of financial technology and mobile lending and has expanded rapidly to operate in 24 countries. Ferratum's customers utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 20,000 and small businesses instalment loans up to EUR 100,000 with a term of six to twelve months. Led by its founder, Jorma Jokela, Ferratum has more than 1.6 million active and former customers who have been granted one or more loans in the past (as at March 31, 2017).
Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange under symbol 'FRU.' For more information, visit www.ferratumgroup.com.
Contacts:
23.05.2017 Veröffentlichung einer Corporate News/Finanznachricht, übermittelt durch DGAP - ein Service der EQS Group AG.
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