Finance
Investor Arne Blystad has served several hundred million of Bank Norwegian. Now he takes enough a lot.
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Investor Arne Blystad with family have purchased in the forbrukslånbanken Monobank.
According to a recent aksjonærutskrift controls the investor and his sphere approximately six million shares, around three per cent of the company.
Half owned by Blystads personal investment company, Spencer Trading, while the remaining shares are owned by four companies belonging to the family and close associates.
Blystad-companion and manages Viggo Leisner do not want to comment on the purchases towards the DN on Tuesday.
- Bergen-based Monobank offers consumer loans via mobile and online of up to nok 500,000 unsecured.
- the Company is listed in the gråmarkedet and last sold for 3,90 euros per share. That prices the company at around 775 million.
- Forbrukslånsbanken was launched as late as last year, and taken up at the Fondsmeglerforbunds the OTC-list in January.
- Monobank has quickly taken part in an increasing interest for consumer loans, driven by new technological solutions.
- the Bank had a small net profit of $ in the third quarter, and increased its loans by over nok 600 million in the period while revenues were up 30 per cent from the second quarter.
- Monobank also announced a collaboration with Widerøe and SAS on the development of the credit cards recently, and aim to launch in Finland next year.
- High margins and staid traditional banks has contributed to a number of start-ups within the mortgage the past few years, including the Monobank, Bank Norwegian, Instabank, Complete with more.
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- A vote of confidence
It is also not known what course the transaction is done. Monobank succeeded in the previous month to bring in 175 million. Add emisjonskursen of 4,10 euros per share, due to make up the investment around 25 million.
Monobank-chief Bent Gjendem see it as a sunnhetstegn that Bergen-dominance are broken up as a shareholder. By the side of the Gothenburg-based finanshuset Priority Group AB, which also is the main shareholder in the Norwegian debt collection company B2H Holding, characterised aksjonærlisten of Monobanks bysbarn.
We are very happy to get into Blystad and look at it as a vote of confidence, ” says Gjendem to DN.
He adds that it also has acquired other new investors, including from Sweden, after the offering.
Considering listing
Several institutional investors have expressed skepticism regarding the forbrukslånbankene of fear for reputation and stricter regulation.
Gjendem believe it is not in this situation shoe press, and points out that the Swedish Swedbank Robur funds is a significant shareholder in Bank Norwegian.
- We have met a part fund in roadshowet our, and they say that either you need to be noted or so it must be a signal of the initial public offering within twelve months. It is a current issue, which is under consideration, said Gjendem.
Although, he has mortgaged the residence to invest in the Monobank, where he currently owns 2.2 million shares, about one per cent.
Supergevinst
Norwegians ‘ appetite for unsecured debt has increased rapidly in the last few years, and is growing twice as fast as the overall growth in debt. In ten years has the household forbruksgjeld close to tripled to around 90 billion.
Blystad in 2007 was among the first to place a bet in this market when he helped to oppkapitaliseringen of Bank Norwegian. The value of Bank Norwegian has close to doubled in one year and quadrupled in two years. The bank is valued now at close to 14 billion on the Oslo stock Exchange.
It also did that the investor in the beginning of October in the year be able to collect almost 300 million, the very most profit, after the sale of a larger stake. Blystad system controlled when additional 5.2 million Bank Norwegian shares, the equivalent of around 400 million based on current courses.
Of Bank Norwegian’s list of the 20 largest shareholders per 6. December, is the only Blystad-the company Songa offshore as, which pops up, with in excess of two million shares, equivalent to 1.2 per cent.
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