Exclusive: Plus500 to Join FTSE 250 as It Enters LSE’s Main Market
- Less than one week after it received FCA approval, the firm's stocks are now available on the LSE main board
Plus500 stock started trading on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term’s (LSE) main market for listed securities this Tuesday morning. The CFD provider’s move to the LSE’s main board could see it becoming a part of the FTSE 250 Index which lists the largest 101 to 350 companies on the LSE in September when there is a reshuffle.
Plus500 announced that it was applying to move to the LSE’s main board in May of 2018. At that time the firm was still trading on the LSE but only in its alternative investment market which is focused on high growth companies.
When the broker announced its decision to switch to the main board, it provided a number of justifications for the move, all of which centered around growth and included efforts to improve its stature, diversify funding sources, and enhance its ability to use company shares as a means by which to make acquisitions.
FCA Approval
The firm’s application to move to the main board required regulatory approval from the UK Listing Authority - a division of the Financial Conduct Authority. This approval was given on the 20th of June and enabled the broker to switch over to the main board today.
As a result of its move to the main board, the firm is expected to become a part of the aforementioned FTSE 250. This was something the firm was likely consciously pursuing. At the time of the broker’s application to join the LSE main board, Asaf Elimelech noted that the move could facilitate “potential inclusion in FTSE indices.”
This would seem to be the case as, based on Plus500’s current market capitalization (market cap), the firm would fit within the FTSE 250 with ease. The firm’s market cap currently lies at approximately £1.90 billion ($2.52 billion). This means it would be about the 90th largest firm, in terms of market cap, list on the FTSE 250.
Asaf Elimelech, CEO at Plus500, commented: “We are thrilled to confirm our listing and admission to trading on the London Stock Exchange’s Main Market. This development is expected to enhance the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of the Company's shares and provide a greater range of potential investors for the Company both in the UK and overseas, reflecting the global nature of its business. Our move up represents the next chapter in our growth story, as we continue to expand and diversify our sources of earnings by adding new international licences.”
Plus500 stock started trading on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term’s (LSE) main market for listed securities this Tuesday morning. The CFD provider’s move to the LSE’s main board could see it becoming a part of the FTSE 250 Index which lists the largest 101 to 350 companies on the LSE in September when there is a reshuffle.
Plus500 announced that it was applying to move to the LSE’s main board in May of 2018. At that time the firm was still trading on the LSE but only in its alternative investment market which is focused on high growth companies.
When the broker announced its decision to switch to the main board, it provided a number of justifications for the move, all of which centered around growth and included efforts to improve its stature, diversify funding sources, and enhance its ability to use company shares as a means by which to make acquisitions.
FCA Approval
The firm’s application to move to the main board required regulatory approval from the UK Listing Authority - a division of the Financial Conduct Authority. This approval was given on the 20th of June and enabled the broker to switch over to the main board today.
As a result of its move to the main board, the firm is expected to become a part of the aforementioned FTSE 250. This was something the firm was likely consciously pursuing. At the time of the broker’s application to join the LSE main board, Asaf Elimelech noted that the move could facilitate “potential inclusion in FTSE indices.”
This would seem to be the case as, based on Plus500’s current market capitalization (market cap), the firm would fit within the FTSE 250 with ease. The firm’s market cap currently lies at approximately £1.90 billion ($2.52 billion). This means it would be about the 90th largest firm, in terms of market cap, list on the FTSE 250.
Asaf Elimelech, CEO at Plus500, commented: “We are thrilled to confirm our listing and admission to trading on the London Stock Exchange’s Main Market. This development is expected to enhance the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of the Company's shares and provide a greater range of potential investors for the Company both in the UK and overseas, reflecting the global nature of its business. Our move up represents the next chapter in our growth story, as we continue to expand and diversify our sources of earnings by adding new international licences.”