Plus500 Buys Additional Shares
One of the worlds largest trading corporation has begun their share buyback program after multiple rumours indicated that Plus500 would be looking to purchase shares back. This confirmation comes from filings made with the London Stock Exchange. The filings revealed that the corporation acquired 43+ thousand shares on September 23rd. The average price per share at that time was listed at £765.00.
This recent transaction indicates that the ordinary shares remaining for the issue are more than 111 Million; this excludes the available shares through the treasure. Those shares are listed at more than 2 Million. Subsequently, Plus500 holds more than 113 Million shares for their own corporation. This gives CEO AsafElimelech, total voting rights over what occurs with the Plus500 Corporation. Before the purchase on September 23rd, Plus500 purchased 300+ thousand shares on September 16th and 198+ thousand shares on September 9th. This month alone they’ve purchased more than 500+ shares of Plus500 Stock. The details regarding the transaction history didn’t come from the London Stock Exchange but instead was revealed through Finance Feeds. Until this month, it wasn’t known why Plus500 was purchasing large quantities of their stock. Thanks to the London Stock Exchange, we now know why.
Plus500 will initiate a material share buyback program for their stock. It will be available to select investors, with the total value of shares available maxing out at $50 Million. This buyback program is estimated to launch at the end of March in 2020 and will run the full course of the remaining year. This gives invests nine months to participate in the buyback program.
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