Citigiro Holding Sells Bank Platform to Valuno Group

Citigiro Holding AB has successfully completed the sale of a wholly-owned subsidiary to Valuno Group AB (publ), as announced in a press release. This subsidiary houses the bank platform that was integral to the former banking operations of Intergiro Intl AB (Publ). The total purchase price for this transaction amounts to SEK 50 million. The payment comprises SEK 12.5 million in cash and SEK 37.5 million in the form of shares within Valuno Group AB. Under the agreement, 50% of the shares received by Citigiro Holding will be subject to a six-month lock-up period. This restriction applies exclusively if these shares are subsequently sold on the market. The press release further clarifies that Front Ventures holds approximately 20% of the shares in Citigiro Holding AB.