Plus500 Commences New Share Buyback Program, Starts Off Slow
- The broker has purchased almost £53,000 worth of its own ordinary shares.
After only having just completed its last share buyback program, Plus500 (LON:PLUS) is back at it again, with the London-listed broker repurchasing more than 4,000 of its ordinary shares.
Yesterday, at the same time as announcing its record financial results for the first 6 months of this year, the Israel-based broker revealed that it would be commencing yet another share buyback program. In its latest round, the company is planning on repurchasing $67.3 million worth of its own shares.
According to a regulatory filing through the news service of the London Stock Exchange (LSE), on 11th August 2020 Plus500 bought 4,119 of its ordinary shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.
The volume weighted average price paid per share was £12.87. Therefore, the broker spent around £52,999.58 for its first batch of shares. The lowest price paid per share was around £12.81 and the highest price paid per share was £12.91.
Looking at the document, it appears the Plus500 is starting off its new buyback program slowly. As Finance Magnates reported extensively, during its previous buyback, the broker was regularly spending around £300,000 per batch.
In its prior share buyback program, before the one announced on Tuesday of this week, the contracts for difference (CFD) trading provider repurchased $38.9 million worth of its own ordinary shares. The program concluding during the first half of 2020.
Plus500 Shares Rise after Record H1 2020 Results
At the close of trading on Tuesday this week, Plus500’s share price was at its highest point since the onset of the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic - even higher than during March when COVID-19 driven Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term was at its peak. At the time of publishing, the broker’s share price is around £14.00.
Source: Google
“The Company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 105,975,056 (excluding treasury shares), and the company will hold 8,913,321 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 105,975,056,” Plus500 said in the document filed through the LSE.
After only having just completed its last share buyback program, Plus500 (LON:PLUS) is back at it again, with the London-listed broker repurchasing more than 4,000 of its ordinary shares.
Yesterday, at the same time as announcing its record financial results for the first 6 months of this year, the Israel-based broker revealed that it would be commencing yet another share buyback program. In its latest round, the company is planning on repurchasing $67.3 million worth of its own shares.
According to a regulatory filing through the news service of the London Stock Exchange (LSE), on 11th August 2020 Plus500 bought 4,119 of its ordinary shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.
The volume weighted average price paid per share was £12.87. Therefore, the broker spent around £52,999.58 for its first batch of shares. The lowest price paid per share was around £12.81 and the highest price paid per share was £12.91.
Looking at the document, it appears the Plus500 is starting off its new buyback program slowly. As Finance Magnates reported extensively, during its previous buyback, the broker was regularly spending around £300,000 per batch.
In its prior share buyback program, before the one announced on Tuesday of this week, the contracts for difference (CFD) trading provider repurchased $38.9 million worth of its own ordinary shares. The program concluding during the first half of 2020.
Plus500 Shares Rise after Record H1 2020 Results
At the close of trading on Tuesday this week, Plus500’s share price was at its highest point since the onset of the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic - even higher than during March when COVID-19 driven Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term was at its peak. At the time of publishing, the broker’s share price is around £14.00.
Source: Google
“The Company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 105,975,056 (excluding treasury shares), and the company will hold 8,913,321 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 105,975,056,” Plus500 said in the document filed through the LSE.