Multitude SE, a listed European fintech company that used to be known as Ferratum, will transfer its registered office from Finland to Malta on 30th June 2024.

The move was initially announced in March after an Extraordinary General Meeting was held, during which the transfer, first proposed by the Board of Directors in January, was approved.

Multitude SE already has a presence in Malta through its subsidiary Multitude Bank plc, licensed by the Malta Financial Services Authority (MFSA) to provide a range of banking services to clients. Prior to 2022, Multitude SE was known as Ferratum, before a group-wide rebrand that also included Malta’s Ferratum Bank plc to change to Multitude Bank plc.

In its latest update, released on Tuesday (today), Multitude SE stated that the Finnish Trade Register issued its permit for the transfer to Malta on 20th May 2024.

The company said that it expects all other necessary consents and approvals for the transfer to be received and all conditions for the move to be fulfilled or waived, by the transfer date.

It also clarified that the transfer will not affect the company’s listing on the Frankfurt Stock Exchange, with its shares continuing to be listed there, with trading “expected to continue without any interruptions.”

The International Securities Identification Number (ISIN) of the shares will be transferred from the current Finnish ISIN to a new Maltese one, MT0002810100. It will be applied as of 1st July 2024.

Additionally, the company’s issuer central securities depository will change from Euroclear Finland Oy to the depository operated by the Malta Stock Exchange (MSE). As a result, the MSE’s depository will hold the company’s share register.

Multitude SE said that all its shares will be held through the international central securities depository Clearstream Banking S.A. in Luxembourg. The transfer to Clearstream is expected to take place before or during the last week of June so that all shares will be held through the depository prior to the transfer date.

This transfer represents the first phase of Multitude SE’s plans to relocate to Switzerland. Following the transfer, the company is planning to convert into a public limited company governed by the laws of Malta. Afterwards, it will apply to be registered in Switzerland, pursuant to applicable Maltese and Swiss laws by the end of 2024.