Plus500 Repurchases 34,000 Own Shares Via Credit Suisse Securities

Plus500 has repurchased 34,000 of its own shares in line with the terms of the share buyback program announced in August. The broker paid around £499,749 for the latest batch of shares.

September 2, 2020 | AtoZ MarketsRetail FX and CFDs broker Plus500 has started off the new month by continuing to repurchase its own shares on a daily basis, with the London listed broker repurchasing more than 30,000 of its ordinary shares on the 1st of September 2020.

Plus500 continues with share buyback

According to a regulatory document filed through the London Stock Exchange (LSE) Plus500 repurchased 34,000 of its ordinary shares of ILS 0.01 on Tuesday, each through Credit Suisse Securities (Europe) Limited.

For its latest batch, the volume weighted average price paid per share by Plus500 was around £14.70. Taking this into consideration, the broker paid around £499,749 all together on Tuesday.

Across the 34,000 shares, the lowest price paid per share by Plus500 was £14.49. The document also showed that the highest price paid per share was £14.84. The Israel based broker’s share price is currently performing quite well, peaking in August, and continuing to gain traction today.

Plus500 reveals plans to expand into physical equity trading

As AtoZ Markets recently reported, the Plus500 CEO revealed that the firm is planning to move into physical equity trading, moving the online contracts for difference (CFD) broker into mainstream stockbroking.

In particular, the broker is looking at share dealing. This expansion would put the company in competition with Hargreaves Lansdown and AJ Bell. These firms are listed on the FTSE 100 and FTSE 250, respectively.

In August, Plus500 became the main sponsor of the Polish football league, Ekstraklasa, champion Legia Warsaw FC.

Read also: easyMarkets Signs a Three Year Sponsorship Deal with Real Madrid

Under the agreement, the Israel based broker has become the main sponsor for Atalanta B.C. for three years commencing on the 1st of September 2020. This is the third sports sponsorship announced by the Israel-based broker this year, with the last one announced two weeks prior.

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