Online Trading Broker Plus500 Has Repurchased Over 25K Shares in its Buyback Program

Plus500, an online Contract for Differences (CFDs) trading platform based in Israel, has announced that it has repurchased more than 25K shares. This repurchase was a part of Plus500’s share buyback program. It is the latest purchase of shares that has been made by this online CFD brokerage firm.

Another purchase of shares by Plus500

Reportedly, the financial firm Plus500 has bought 25,648 shares as a part of its share buyback program. For the purchase of these shares, the firm paid a huge amount of £399 339 via Credit Suisse Securities.

According to a report from the London Stock Exchange (LSE), Plus500 paid the volume-weighted average price of around £15.57 for each share. Plus500 repurchased shares on September 21, 2020.

While announcing the purchase of shares, the company has said in a statement that it plans to hold these shares in treasury:

“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 105,227,201 (excluding treasury shares), and the company will hold 9,661,176 ordinary shares in treasury.”

Plus500 continues to repurchase shares since Aug 11

Headquartered in Israel, Plus500 is an international financial company that provides users with the online Contract for Differences trading services in over 2,000 securities and assets. The company launched its share buyback program last month on August 11, 2020. Since that time, the broker has been continuing to repurchase shares. It may purchase more shares as part of its buyback program which will run till February 28, 2021.

The broker claims that it is always focused on showing good performance. The company says that it succeeded in showing good performance throughout the year 2020 because of its proprietary and advanced technology.

Recently, an Annual General Meeting (AGM) was conducted by the broker. At this meeting, it added another member to its company’s board. Anne Grim was appointed as a Non-Executive Director at Plus500.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

Leave a Reply

Your email address will not be published. Required fields are marked *