Nasdaq announced trading in Fellow Finance Plc (Nasdaq:Fellow) shares commenced on Wednesday on Nasdaq First North Finland. As previously reported, Fellow Finance will issue a total of 1,300,000 new shares in addition to which certain existing shareholders in the company are offering 1,293,658 shares in the company for sale.
Speaking about the launch of Fellow Finance’s trading, Henrik Husman, President of Nasdaq Helsinki, stated:
“We would like to extend a warm welcome to Fellow Finance which is an interesting addition to our First North market as a financial technology company. We congratulate Fellow Finance on the completion of its IPO and look forward to a lasting partnership with the company and its shareholders.”
Jouni Hintikka, CEO of Fellow Finance Plc, also commented:
“We are very satisfied with the great interest shown by investors towards Fellow Finance’s initial public offering. I would like to thank all of our investor clients, our personnel, as well as new institutional investors and retail investors that participated in the offering. The listing gives us further support in speeding up our international growth strategy.”
The subscription price of the offer was €7.73 per share in the Institutional Offering and in the Public Offering and €6.96 per share in the personnel offer. The valuation of all of the outstanding shares gave Fellow Finance a market cap of €55 million. Fellow Finance will reportedly receive gross proceeds of approximately €10 million from the IPO, and the shareholders selling sale shares will receive gross proceeds of approximately €10 million. Fellow Finance is reportedly the 61st company to be admitted to trading on Nasdaq’s Nordic markets in 2018, and it represents the 9th listing on Nasdaq Helsinki in 2018.
Founded in 2013, Fellow Finance offers a secure and safe online marketplace for lending and borrowing. Fellow Finance Oyj is regulated by the Financial Supervisory Authority of Finland as an Authorised Payment Institution.
“Fellow Finance offers the most advanced crowdfunding platform for people and businesses. The borrower can apply a loan fitting their needs and the investor can receive reasonable interest returns for the money lent. Fellow Finance offers a secure and safe online marketplace for lending and borrowing.”