Plus500 Key Shareholders Sell Stakes for £100m

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Plus500 Key Shareholders Sell Stakes for £100m

Made the decision after the Plus500 shares touched their all-time high values of Wednesday

Plus500 founders and key stakeholders sold their £100m-worth stakes in the CFD trading platform on Thursday, right after their prices reached to the perpetual high on the previous day, hitting £5.70 per share before closing.

The five insiders – Gal Haber, Alon Gonen, Omer Elazari, Elad Ben-Izhak, and Shlomi Weizmann – were together holding a total of 20m shares, valued at 500p per unit. At the time of the placing, Plus500’s shares were value at 565p – a holding of 17.4pc – which eventually left sellers with a 35.6pc stake in the business.

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Liberum Capital navigated the placement by following a process called accelerated bookbuild, hinting that Plus500 was in immediate need of financing, and the share sale have been quick with little to no marketing.

Meanwhile, the Plus500 director Alon Gonen has revealed to have sold the maximum shares in the process, followed by the chief executive Gal Haber. There are, though, no consequences which refer them leaving the company. The sixth founder Shimon Sofer has already left last week after selling his $41 million worth shares.

There was a little effect to be seen in the Plus500’s stake value on Wednesday, as they plunged to 538p, lower by 26. The group however thought the transition to further smooth their process of moving from Aim to the main market.

To contact the reporter of the story, Jonathan Millet at john@forexminute.com