RealTime IT News

JellyWorks Forms Alliance With Swedish Online Bank

Internet investment firm JellyWorks has announced a strategic partnership with Sweden's EPO.COM, a company that specializes in electronic public offerings (EPOs).

JellyWorks already has a shareholding in EPO.COM but with the new agreement it will increase its involvement in the Scandinavian market. The U.K. firm will operate from EPO.COM's offices and allow the Swedish firm to handle the EPOs for its investments in Scandinavia.

"Scandinavia leads the world in wireless access to the Internet and JellyWorks is keen to invest in that sector," said Ed Guinan, chairman of JellyWorks.

0la Lauritzson, chief executive officer of EPO.COM, commented that EPO.COM has already handled 17 EPOs on the Stockholm Stock Exchange. As a result of the new alliance, Lauritzson anticipated even more opportunities in the future.

JellyWorks, which is listed on AIM in the U.K., has had a meteoric rise in recent weeks, chiefly the result of making investments in such successful enterprises as beenz.com and Orchestream.

Just before Christmas, JellyWorks announced the formation of JellyWorks USA together with an investment in the New York-based Internet investment company Grand Central Holdings.

In electronic public offerings, as envisaged by EPO.COM, the entire issue process from sending a prospectus to the distribution of shares takes place online.

EPO.COM has been authorized by the Swedish Financial Supervisory Authority as a securities company and has managed a bond offering for the Swedish National Debt Authority. The company maintains offices in Sweden, Finland and London, and has plans to expand its presence to Germany, Italy and France this year.