Only last Friday, we could report that Trustbuddy’s acting CEO Jens Glasø had bought an additional 50,000 shares. Today, we can note that member of the Board Rune Glasø has bought not less than 400,000 shares on October 10th. There has been heavy insider buying in the Sweden listed P2P lending provider since July this year (http://trustbuddyinternational.com/insider-list/).
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.
Also, TrustBuddy recently announced a significant improvement of its leadership. In a move to adapt to a changing legislative environment and to further strengthen its expertise, the company nominated a new Chairman, three further board members and the reshaping of the CEO role. (http://nordicinvestor.net/2014/09/26/trustbuddy-strengthens-leadership-significantly/)