Self Trade, the French Internet agent, is today implementing a new EUR 140 M share issue and its shares will be listed simultaneously on the Le Nouveau Marche Paris Stock Exchange. The issue is the largest of its type to date on Le Nouveau Marche. SEB is one of the largest owners in Self Trade, with 34 per cent of the votes and 20.4 per cent of the share capital.
Self Trade is already established as one of the leaders in the French market and its goal is to become one of the European market leaders in the area of financial services via the Internet.
Self Trade is one of the pioneers in trading via the Internet and has established its name by charging a uniform flat rate for all share transactions, regardless of the size of the investment. The company, which has operations in London, Milan, Madrid and Cologne, has a total of 160 employees.
Self Trade, which had approximately 17,000 customers as at February 29, books a total of 16,000 orders each day. Following the new share issue, which has been subscribed by approximately 300,000 French investors, Self Trade has shareholders' equity of about EUR 180 M.
SEB´s holding in Self Trade has a book value of SEK 69.9 M in the accounts for 1999. SEB intends to subscribe to the issue according to its pre-emptive rights.