As Price Falls, Plus500 Repurchased 33,000 of Own Shares

It’s been just under two weeks since Plus500 (LON:PLUS) announced that it was commencing a new share buyback program. Today the London listed broker has revealed that it has purchased 33,000 of its own shares.

In the regulatory document filed through the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (LSE) today, Plus500 announced that on 20th August 2020 it repurchased 33,000 of its own ordinary shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.

The volume weighted average price paid per share was £14.77. Therefore, the Israel based company spent around £487,287.90 on its latest batch of shares. Additionally, the lowest price paid per share was £14.44 and the highest price paid per share was £14.95.

This week Plus500 has really picked up steam with its share buyback program. As Finance Magnates reported, on 19th August the firm repurchased 25,700 ordinary shares at a volume weighted average price paid per share of £15.48. Therefore, the Israel based broker spent around £397,836.00.

Plus500 Ramps Up Share Buyback

Prior to this, Plus500 had been taking it slow. On 11th August 2020, the company bought 4,119 of its own ordinary shares. Then, according to documents filed through the London Stock Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (LSE) in recent weeks the broker bought 5,313 more shares on 18th August.

As part of its latest program, the firm plans to repurchase $67.3 million worth of its own shares. It will run from 11th August 2020 up until 28th February 2021. It is possible for the broker to end the program earlier on the date of the announcement of its preliminary results for the year ended on 31st December 2020.

“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 105,911,043 (excluding treasury shares), and the company will hold 8,977,334 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 105,911,043,” the broker said in the filing today.