After the termination of the merger agreement between the companies, their share prices have diverged in early London trading
In the aftermath of the termination of the merger agreement between Plus500 (LON:PLUS) and Playtech (LON:PTEC), the share prices of the companies have reacted differently to the news. The stock of the London Stock Exchange's (LSE) Alternative Investments Market (AIM) listed brokerage traded over 20 percent lower on the day, while the gaming company lost 8 percent at the opening bell.
The price action that followed objectively shows the impact of the deal fallout on the plans of both companies. Plus500 (LON:PLUS) announced in a statement this morning that its operations are not impacted in any way by the announcement made by Playtech this morning.
At the same time, the brokerage has launched a share buyback program totaling $20 million and also reiterated its dividend distribution policy. Shareholders of Plus500 (LON:PLUS) have been continually benefiting from a relatively high base dividends payout ratio which the company has been employing for a while as 60 percent of retained profits of the brokerage have been returned to shareholders.
The company confirmed a $0.2121 per share representing $24.37 million.
Commenting on the matter, a company spokesperson shared with Finance Magnates, ”For us this is business as usual. In the following year our strategy was of an independent firm, despite the discussions with Playtech.”
The firm has been rolling out additional CFDs products according to the demands of its clients and reiterated a sponsorship deal with football club Atletico Madrid back in June.
While the blowout of the deal doesn’t appear to be materially affecting the share price of the brokerage so far, it is a different story with Playtech (LON:PTEC).
Apparently some shareholders of the company have been betting on expanding business opportunities for the gaming company. Entering into financial markets has proven to be tougher than expected, as the European regulators, namely the Central Bank of Ireland and now the U.K. FCA, have dented the plans of the group to enter into a brand new market for it.
Since the announcement Playtech's plans to expand its business line, the company’s share prices have broken to new all-time highs in the anticipation of additional revenues. In addition, the company has raised financing in order to complete the upcoming deals and investors could be selling off stock in anticipation that the gaming company will not be able to find alternative investments.
Shares of Plus500 are trading down by merely 3.5 percent at the time of publication at 346 pence, while those of Playtech are down 8.4 percent to 780 pence per share.
In the aftermath of the termination of the merger agreement between Plus500 (LON:PLUS) and Playtech (LON:PTEC), the share prices of the companies have reacted differently to the news. The stock of the London Stock Exchange's (LSE) Alternative Investments Market (AIM) listed brokerage traded over 20 percent lower on the day, while the gaming company lost 8 percent at the opening bell.
The price action that followed objectively shows the impact of the deal fallout on the plans of both companies. Plus500 (LON:PLUS) announced in a statement this morning that its operations are not impacted in any way by the announcement made by Playtech this morning.
At the same time, the brokerage has launched a share buyback program totaling $20 million and also reiterated its dividend distribution policy. Shareholders of Plus500 (LON:PLUS) have been continually benefiting from a relatively high base dividends payout ratio which the company has been employing for a while as 60 percent of retained profits of the brokerage have been returned to shareholders.
The company confirmed a $0.2121 per share representing $24.37 million.
Commenting on the matter, a company spokesperson shared with Finance Magnates, ”For us this is business as usual. In the following year our strategy was of an independent firm, despite the discussions with Playtech.”
The firm has been rolling out additional CFDs products according to the demands of its clients and reiterated a sponsorship deal with football club Atletico Madrid back in June.
While the blowout of the deal doesn’t appear to be materially affecting the share price of the brokerage so far, it is a different story with Playtech (LON:PTEC).
Apparently some shareholders of the company have been betting on expanding business opportunities for the gaming company. Entering into financial markets has proven to be tougher than expected, as the European regulators, namely the Central Bank of Ireland and now the U.K. FCA, have dented the plans of the group to enter into a brand new market for it.
Since the announcement Playtech's plans to expand its business line, the company’s share prices have broken to new all-time highs in the anticipation of additional revenues. In addition, the company has raised financing in order to complete the upcoming deals and investors could be selling off stock in anticipation that the gaming company will not be able to find alternative investments.
Shares of Plus500 are trading down by merely 3.5 percent at the time of publication at 346 pence, while those of Playtech are down 8.4 percent to 780 pence per share.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
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
#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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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#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.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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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
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
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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