Former executive and co-founder of Plus500, Shimon Sofer, has further reduced his stake, after his holding company BQ Soft Ltd reports its holdings are reduced from 7% to just under 3% of all outstanding shares of Plus500.
[Correction: The was a '3' omitted in the number '£39 million in the original publication that has since been re-added] One of the few publicly traded online Forex brokers, UK-listed Plus500 Ltd, which has just reported strong Q4 results sending its share price higher on London's AIM, had nearly 4% of its stock sold on February 21, according to an official regulatory disclosure on the London Stock Exchange website.
The news was triggered by BQ Soft Ltd, an Israel-based private company, that unloaded a little over 8.5 million shares out of a total of 115 million outstanding shares for the public broker.
Forex Magnates had previously covered when this entity, BQ Soft Ltd, representing the holdings of one of the firm's co-founders Shimon Softer, unloaded about 1.5 million shares – which sent the stock price down 8%, closing around just 272 pence in late January, as well as the subsequent financial results that recently sent the share price close to 500 pence. The sale of 8,584,361 shares by BQ Soft Ltd last Friday, using a rough estimate of £4.50 per share, will yield just under £39 million in proceeds.
Former Executive Booking Profits at the Highs
Shimon Sofer, thus effectively decreases his position to less than 3%, capitalizing on the recent increase in share price and booking profits at the new highs.
Last time Mr. Sofer sold off a large portion of his stake, Forex Magnates followed up with Plus 500’s head of investor relations, Elad Even-Chen, who said regarding the transaction, “Plus500 is a publicly traded company and we cannot comment on individual share transactions. Mr. Sofer is no longer an employee of Plus500 and is simply exercising his rights as a shareholder.”
During the last reported financial results for Q4 2013, Plus 500's CEO, Gal Haber said, “We are delighted to announce our maiden full year results since listing in London. Our business has shown strong growth throughout 2013 during which time we generated record levels of both revenue and profits. The IPO has provided a positive catalyst for our business, particularly within the European and Australian markets where our strong presence and innovative marketing initiatives are generating significant levels of activity across our platform.”
Mr. Haber concluded in the previous Q4 announcement, “The business remains well placed to build on the growth experienced during 2013 as we look to continue our growth ambitions and expand our geographic footprint. We are delighted to be declaring both an ordinary dividend in line with our 50% payment target and a special dividend to reflect the financial strength of the Group. In view of the strong start to 2014, the Board remains confident of delivering further considerable growth in 2014 and beyond.”
Plus500 Considering to Switch to LSE as Stock Price on the Rise
The company said that it was considering switching its listing to the LSE's main market, after barely a year-old as a publicly traded company, following the IPO last July, and amid the new high's for its share price. The news comes just days after a fund manager, Hargreave Hale Limited, representing indirect interest held on behalf of collective investors, added 215,307 shares of Plus500 bringing its total indirect position to 5,754,550 shares or just over 5%.
However, unlike a direction position (such as in the case of Mr. Sofer), the indirect holdings represent the underlying investors, yet nonetheless the intention to buy looks to be coming from the discretionary fund manager and occurring around the time of the positive Q4 results, as investors hope to earn a return on their investment, just as Mr. Sofer has.
[Correction: The was a '3' omitted in the number '£39 million in the original publication that has since been re-added] One of the few publicly traded online Forex brokers, UK-listed Plus500 Ltd, which has just reported strong Q4 results sending its share price higher on London's AIM, had nearly 4% of its stock sold on February 21, according to an official regulatory disclosure on the London Stock Exchange website.
The news was triggered by BQ Soft Ltd, an Israel-based private company, that unloaded a little over 8.5 million shares out of a total of 115 million outstanding shares for the public broker.
Forex Magnates had previously covered when this entity, BQ Soft Ltd, representing the holdings of one of the firm's co-founders Shimon Softer, unloaded about 1.5 million shares – which sent the stock price down 8%, closing around just 272 pence in late January, as well as the subsequent financial results that recently sent the share price close to 500 pence. The sale of 8,584,361 shares by BQ Soft Ltd last Friday, using a rough estimate of £4.50 per share, will yield just under £39 million in proceeds.
Former Executive Booking Profits at the Highs
Shimon Sofer, thus effectively decreases his position to less than 3%, capitalizing on the recent increase in share price and booking profits at the new highs.
Last time Mr. Sofer sold off a large portion of his stake, Forex Magnates followed up with Plus 500’s head of investor relations, Elad Even-Chen, who said regarding the transaction, “Plus500 is a publicly traded company and we cannot comment on individual share transactions. Mr. Sofer is no longer an employee of Plus500 and is simply exercising his rights as a shareholder.”
During the last reported financial results for Q4 2013, Plus 500's CEO, Gal Haber said, “We are delighted to announce our maiden full year results since listing in London. Our business has shown strong growth throughout 2013 during which time we generated record levels of both revenue and profits. The IPO has provided a positive catalyst for our business, particularly within the European and Australian markets where our strong presence and innovative marketing initiatives are generating significant levels of activity across our platform.”
Mr. Haber concluded in the previous Q4 announcement, “The business remains well placed to build on the growth experienced during 2013 as we look to continue our growth ambitions and expand our geographic footprint. We are delighted to be declaring both an ordinary dividend in line with our 50% payment target and a special dividend to reflect the financial strength of the Group. In view of the strong start to 2014, the Board remains confident of delivering further considerable growth in 2014 and beyond.”
Plus500 Considering to Switch to LSE as Stock Price on the Rise
The company said that it was considering switching its listing to the LSE's main market, after barely a year-old as a publicly traded company, following the IPO last July, and amid the new high's for its share price. The news comes just days after a fund manager, Hargreave Hale Limited, representing indirect interest held on behalf of collective investors, added 215,307 shares of Plus500 bringing its total indirect position to 5,754,550 shares or just over 5%.
However, unlike a direction position (such as in the case of Mr. Sofer), the indirect holdings represent the underlying investors, yet nonetheless the intention to buy looks to be coming from the discretionary fund manager and occurring around the time of the positive Q4 results, as investors hope to earn a return on their investment, just as Mr. Sofer has.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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