Alon Gonen, Gal Haber, Elad Ben-Izhak, Omar Elazari and Shlomin Weizmann are preparing to offload over 15 mln shares.
The founders of Plus500, which has become one of the most successful IPO’s in the brokerage industry, are preparing to offload a big chunk of shares to institutional investors. The retail foreign Exchange and CFDs trading provider has issued an official announcement on the matter via the London Stock Exchange.
the total amount of the sale could amount to over £110 million
Together, Alon Gonen (with shares registered in the name Sparts24 Ltd), Gal Haber (Wavesoft Ltd), Elad Ben-Izhak (Smarty Ltd), Omer Elazari and Shlomi Weizmann have notified the firm that they intend to offload a total of 15,500,000 existing ordinary shares of the firm’s issued capital.
The sale will be conducted via a placement of shares that will take place immediately after the announcement.
The current price per share is about 750 pence, which is just below the company’s all-time record highs set last year, before the UK Financial Conduct Authority (FCA) reprimanded the firm about its onboarding procedures and caused a panic selloff when the firm lost close to three quarters of its value.
Typically when similar announcements are made, the shares are traded at a discount to the market price. Should we take into account a value that is 5 per cent lower than current market prices, the total amount of the sale could amount to over £110 million ($143 million).
Institutional Investors Most Likely Buyers
The sale of the placement will be executed by way of an accelerated bookbuild to institutional investors. The joint global coordinators and joint bookrunners are Joh. Berenberg, Gossler & Co KG and Liberum Capital Limited.
One of the company's biggest investors is the fund Odey Asset Management, a company that has been briskly opposing the takeover deal with Playtech which ultimately wasn't concluded due to lack of approval from the U.K FCA and the Central Bank of Ireland.
The final number of shares sold at the placement and the price are going to be announced after the conclusion of the sale. Plus500 is not a party to this transaction and will not be receiving any proceeds from the sale.
After the deal the founders of the company will continue holding a substantial stake with about 22 per cent of the total shares of Plus500. They have also agreed to refrain from selling additional shares for three months.
According to the official announcement filed with the LSE: “The Founders’ intention to sell reflects their desire to diversify their investments whilst raising funds for personal reasons.”
The founders of Plus500, which has become one of the most successful IPO’s in the brokerage industry, are preparing to offload a big chunk of shares to institutional investors. The retail foreign Exchange and CFDs trading provider has issued an official announcement on the matter via the London Stock Exchange.
the total amount of the sale could amount to over £110 million
Together, Alon Gonen (with shares registered in the name Sparts24 Ltd), Gal Haber (Wavesoft Ltd), Elad Ben-Izhak (Smarty Ltd), Omer Elazari and Shlomi Weizmann have notified the firm that they intend to offload a total of 15,500,000 existing ordinary shares of the firm’s issued capital.
The sale will be conducted via a placement of shares that will take place immediately after the announcement.
The current price per share is about 750 pence, which is just below the company’s all-time record highs set last year, before the UK Financial Conduct Authority (FCA) reprimanded the firm about its onboarding procedures and caused a panic selloff when the firm lost close to three quarters of its value.
Typically when similar announcements are made, the shares are traded at a discount to the market price. Should we take into account a value that is 5 per cent lower than current market prices, the total amount of the sale could amount to over £110 million ($143 million).
Institutional Investors Most Likely Buyers
The sale of the placement will be executed by way of an accelerated bookbuild to institutional investors. The joint global coordinators and joint bookrunners are Joh. Berenberg, Gossler & Co KG and Liberum Capital Limited.
One of the company's biggest investors is the fund Odey Asset Management, a company that has been briskly opposing the takeover deal with Playtech which ultimately wasn't concluded due to lack of approval from the U.K FCA and the Central Bank of Ireland.
The final number of shares sold at the placement and the price are going to be announced after the conclusion of the sale. Plus500 is not a party to this transaction and will not be receiving any proceeds from the sale.
After the deal the founders of the company will continue holding a substantial stake with about 22 per cent of the total shares of Plus500. They have also agreed to refrain from selling additional shares for three months.
According to the official announcement filed with the LSE: “The Founders’ intention to sell reflects their desire to diversify their investments whilst raising funds for personal reasons.”
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
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
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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.
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#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
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#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.
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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.
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