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"Until now, I have no money on any account". A week ago, Izettle's boss, Jacob de Geer, explained to Di on the question of what he would do with the 1.4 billion crowns he received in the part of selling his PayPal account to PayPal.
But now, it works properly on Jacob de Geers bank account. A document sent to the US financial authorities reveals that Jacob de Geer sells shares for an amount equivalent to SEK 169 million. Its co-founder, Magnus Nilsson, also realizes a stock sale of SEK 182 million. This is about the Paypal shares that both received when Paypal bought their companies before the summer.
The shares are sold via Paypal in a so-called investment and it is not only the founders who sell. Another 50 employees of Izettle sell shares of the transaction. In total, Izettle staff, including Magnus Nilsson and Jacob de Geer, can now cash the equivalent of 530 million SEK.
The shares are sold as part of the transaction at a maximum price of 78.90 USD, which corresponds to a discount of approximately 10% over the closing price of 87.57 USD on Tuesday.
Paypal acquired earlier this year Izettle in a store of slightly more than 19 billion SEK.
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