Plus500 Continues Buyback, Purchases More than £250K Shares

Plus500, a London-listed but Israel-based broker, announced this Thursday that, as part of its ongoing share buyback program, it has purchased more than 20,000 shares through Credit Suisse Securities (Europe) Limited.

According to a filing through the London Stock Exchange (LSE) news service, Plus500 has purchased 21,317 shares at a volume-weighted average price paid per share of £11.76 on April 15, 2020. Therefore, the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term provider paid around £250,688.0 for the latest round of shares.

In particular, the lowest price paid per share for the broker was £11.66, and the highest price paid per share was £11.81, the document shows.

“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 106,870,635 (excluding treasury shares), and the company will hold 8,017,742 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 106,870,635,” the company said this Thursday.

Plus500 continues to execute buybacks amid COVID-19

The online contracts for difference (CFD) trading provider said back in February that it plans to repurchase $30 million as part of its share buyback program. The latest share buyback program will run from February 12, 2020, up until August 31 this year. However, the program might end earlier on the date of the announcement of the company’s interim results for the six months ending June 30, 2020.

Since the program was announced, many of the company’s top executives have been buying up the company’s shares. As Finance Magnates reported, Alon Gonen, a Co-Founder of Plus500, has purchased millions of pounds worth of the company’s stocks.

Last month, from March 20 until the 24th, Gonen purchased approximately £4.63 million worth of the online CFD firm’s shares. This is in addition to the £4.17 million worth of shares he purchased on March 2, 2020, as Finance Magnates reported.