The broker is expanding its operational presence in the United States.
Its management reportedly is not satisfied with the valuation.
Plus500 (LON: PLUS), a retail broker, is evaluating options to list its shares in the United States as an alternative to its existing listing on the London Stock Exchange, The Times reported.
Plus500 Seeks to Improve Valuation
Though officially not confirmed, the decision is being fueled by frustration among the broker's management over the company's valuation. Currently, the broker is valued at £1.42 billion (about $1.8 billion), which is more than double its $832.6 million revenue in 2022 and about five times its profit of $370.4 million.
The London-listed broker already reported revenue of $207.9 million in Q1 2023, with an EBITDA of $100.9 million. According to analysts' consensus results, the broker is expected to generate $601.2 million in revenue in 2023, while the EBITDA is estimated at $266.9 million and earnings per share at $2.43. The debt-free company closed Q1 with over $950 million in cash balances.
Plus500 share price has rallied since April 2019 but has dropped significantly in the last six months. The broker's share is trading at £15.69 compared to a 52-week high of £19.78. The company is also actively repurchasing its shares from the market with an ongoing buyback program worth $70 million. As well as that, the Israeli broker distributed $30 million in dividends to its shareholders in 2022.
Plus500 share price
Finance Magnates reached out to Plus500 for its official response on the possibility of a US listing, but the broker declined to comment.
Additionally, the broker made its US ambitions prominent when it signed a four-year sponsorship deal with Chicago Bulls, a US-based professional basketball team, after ending its eighth-year-long partnership with Spanish football club Atlético de Madrid.
Plus500 (LON: PLUS), a retail broker, is evaluating options to list its shares in the United States as an alternative to its existing listing on the London Stock Exchange, The Times reported.
Plus500 Seeks to Improve Valuation
Though officially not confirmed, the decision is being fueled by frustration among the broker's management over the company's valuation. Currently, the broker is valued at £1.42 billion (about $1.8 billion), which is more than double its $832.6 million revenue in 2022 and about five times its profit of $370.4 million.
The London-listed broker already reported revenue of $207.9 million in Q1 2023, with an EBITDA of $100.9 million. According to analysts' consensus results, the broker is expected to generate $601.2 million in revenue in 2023, while the EBITDA is estimated at $266.9 million and earnings per share at $2.43. The debt-free company closed Q1 with over $950 million in cash balances.
Plus500 share price has rallied since April 2019 but has dropped significantly in the last six months. The broker's share is trading at £15.69 compared to a 52-week high of £19.78. The company is also actively repurchasing its shares from the market with an ongoing buyback program worth $70 million. As well as that, the Israeli broker distributed $30 million in dividends to its shareholders in 2022.
Plus500 share price
Finance Magnates reached out to Plus500 for its official response on the possibility of a US listing, but the broker declined to comment.
Additionally, the broker made its US ambitions prominent when it signed a four-year sponsorship deal with Chicago Bulls, a US-based professional basketball team, after ending its eighth-year-long partnership with Spanish football club Atlético de Madrid.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
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