Arcario realises $270 thousand by selling its remaining shareholding in ITOAM SAS
Arcario AB (“Arcario”) has agreed to sell 3019 shares in ITOAM SAS (“ITOAM”), the company behind LN Markets and DLC markets, for cash equivalent to $270 thousand (approx SEK 2.8 million). The sale results in a profit of around SEK 690 thousand for Arcario.
Arcario sold the majority of its stake in ITOAM earlier this year, realising a substantial profit. Other investors in the company recently showed an interest in expanding their holding further and Arcario sized this opportunity to free up more liquidity. The funds will be used to accelerate the growth of K33.
Arcario’s CEO Torbjørn Bull Jenssen commented: “It has been great to be a part of the journey of LN Markets. The team has built a great product with more to come, but the timing was now right for us to take profit and to sharpen the focus on our own product development in K33.”
For further information contact:
Torbjørn Bull Jenssen, CEO, Arcario AB
E-mail: [email protected]
Web: www.arcario.com/ir
About Arcario
Arcario is an industrial investment company within the digital asset space, committed to shaping the future of finance as we know it. The company is the owner of K33, a research-led digital assets brokerage. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
About LN Markets
LN Markets is a leading trading platform for leveraged bitcoin and options trading, built on the innovative Bitcoin Lightning Network. This advanced technology allows instant deposits of collateral from all over the world, enabling users to enjoy fast, cost-effective transactions with minimal counterparty risk. With its user-friendly interface, LN Markets provides a seamless trading experience for individuals interested in exploring the world of digital currency derivatives.
