Shares of Plus500 will be delisted from the London Stock Exchange’s Alternative Investments Market (AIM) after the conclusion of the merger deal with Playtech. Both companies have recently reported their earnings for the second quarter of 2015. The brokerage which suffered from compliance issues in Q2 reported revenues higher by 20 percent as profit declined 25 percent.
According to the earnings report by Playtech, its financials division consisting of TradeFX (the company behind Markets.com which is currently named Marlets Limited) has already officially added €10.6 million to its revenues in the second quarter after the formal conclusion of the merger on May 7th.
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Playtech expects to conclude the merger with Plus500 not earlier than September according to its earnings report. After the conclusion of the deal the owner of the company will be a subsidiary established by the gaming company under the name Brighttech. The merger is still pending the formal approval from the U.K. Financial Conduct Authority (FCA).
According to the regulatory notice filed by Plus500 today, the completion of the deal with Playtech is expected no earlier than on the 28th of September, 2015. The deal is amongst the biggest mergers and acquisitions deals in the industry after Playtech agreed to pay about $700 million (£460 million) in a surprise announcement in June.