- Advertisement -
- Advertisement -

Origo Quest 1 adds to Paynova position through private placement

- Advertisement -

Stockholm (HedgeNordic) – Origo Quest 1, the activist hedge fund managed by Stockholm-based Origo Capital, has increased its stake in Paynova, a Swedish online payment solutions provider, through a private placement, according to a press release.

The transaction amounts to 10.000.000 SEK translating into a new issuance of 12.500.000 shares sold to Origo Quest 1 at a price of 0.80 SEK/share.

Following the transaction, Origo holds 8.97 percent of the shares outstanding, increasing from 4.2 percent as held previously.

Commenting on the transaction, Stefan Roos, CEO of Origo Capital (pictured) says:

“Origo Capital holds a positive view on the e-commerce sector and the market for mobile payments, previous investments in the sector include DIBS, that was acquired in 2015. In the case of Paynova, it has been important for us to follow how the payment solution offered to SJ (Swedish Railways) has developed. SJ is a demanding customer and together with Paynova they have successfully handled a significant amount of transactions since the solution went live in April 2016. As far as we understand, the cooperation has worked very well.”

“We see Paynova as having a strong competence and technology within online payments that meet an increased demand from e-commerce retailers as well as from other companies looking to increase profitability and strengthen client relations”.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Jonathan Furelid
Jonathan Furelid
Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

Latest Articles

Best-Ever Start to the Year for Nordic Hedge Funds

Stockholm (HedgeNordic) – The Nordic hedge fund industry, as indicated by the Nordic Hedge Index, has kicked off the year with its strongest performance...

“This is a Bear Market Rally”

Stockholm (HedgeNordic) – Broad stock markets have staged a solid recovery since the bear-market low of mid-October 2022. Despite the passage of nearly one...

Nasdaq Introduces Futures Tied to Swedish Small-Cap Index

Stockholm (HedgeNordic) – Nasdaq has rolled out futures linked to the OMX Sweden Small Cap 30 ESG Responsible Index. This index, and by extension,...

Norselab’s Credit Arm Eyes AUM Doubling with New Hire

Stockholm (HedgeNordic) – Norselab’s credit arm, which has grown to NOK 2.7 billion in assets under management within just 18 months since its inception,...

Nykredit’s Former Fixed Income Head to Join HP Fonds

Stockholm (HedgeNordic) – After departing from his role as Head of Fixed Income at Nykredit Asset Management six months ago, Henrik Jørgensen will be...

Swiss Wealth Manager Opens RFP for CTA Investment

Stockholm (HedgeNordic) – A Swiss wealth manager is currently searching for a CTA manager running a cross-asset class strategy with a systematic approach. The...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets


Request for Proposal

- Advertisement -