Insiders of Sweden listed P2P lending provider TrustBuddy, continue to buy shares in their company. Only a few days ago, we could report that Mr Rune Glasø bought another 50,000 shares in TrustBuddy, where he is a member of the Board. Yesterday, on September 15th, two further insiders bought additional positions in the company. CEO Jens Glasø and member of the Board Trond Ramslie bought 15,350 and 7,500 shares respectively. (http://trustbuddyinternational.com/insider-list/). While the positions as such might not be huge, they add to a stream of aggressive insider buying over the last two months.
On August 25th, CEO Jens Glasø bought almost 30,000 shares and only a few weeks earlier, several insiders (incl CEO, CFO, COB and CIO) bought in total 700.000 shares during on July 17th and 18th.
These insider transactions come ahead of the highly anticipated IPO of US P2P lending provider Lending Club. The company recently announced plans to raise USD 500m and we are highly interested to see more details on the valuation of the Lending Club IPO. Indicative levels from May would have implied a fair share price of around SEK 8 for TrustBuddy, compared to the current SEK 1,50.