Bloomberg News

Seamless Distribution Rises as CEO Buys Shares: Stockholm Mover

July 06, 2012

Seamless Distribution AB (SEAM), a Swedish developer of software for mobile payment solutions, rose the most in six weeks after Peter Fredell, the company’s Chief Executive Officer purchased additional shares.

Fredell bought 1.14 million shares by exercising options, raising his stake in the Stockholm-based company to about 16 percent, Seamless said in a statement today. Retailers have received SEQR, the company’s mobile payment solution with “enthusiasm,” Fredell said. “I see significant potential in the company,” he added.

The stock was up 11 percent, or 1.4 kronor, to 14.1 kronor as of 9:05 a.m. in the Swedish capital, valuing the company at 333 million kronor ($48 million.) The shares have tripled in value since November, when the company introduced the SEQR mobile transaction solution.

To contact the reporter on this story: Kim McLaughlin in Stockholm at kmclaughlin6@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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