Plus500 Alon Gonen Buys Another £4.6m Worth of Shares

After purchasing more than £4.1 million worth of shares at the beginning of the month, Alon Gonen, a co-founder of Plus500, has purchased even more of the broker's shares, a regulatory filing shows.

In particular, a 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) this Wednesday, shows the Gonen has purchased a further 274,666 on March 20, at an average weighted price of £8.15, which totals around £2.24 million worth of shares.

On the same day, the Plus500 co-founder also purchased 29,807 shares at an average price of £8.20, which translates to around £244,417.4. Four days later, on March 24, 2020, Gonen then went on to purchase even more shares. Specifically, he purchased 250,000 at an average price of £8.59, or about £2.15 million.

Therefore, from March 20 until 24, Gonen purchased approximately £4.63 million worth of the online contracts for difference (CFD) trading provider's shares. This is in addition to the £4.17 million worth of shares he purchased on March 2, 2020, as Finance Magnates reported.

Plus500 buyback program to end in August

Today's regulatory filing is the latest in a list of documents that detail top executives of the Israel-based broker purchasing the company's shares. This is part of the company's latest share buyback program, which was announced in February of this year, in which the company plans to repurchase $30 million worth of its ordinary shares.

The latest share buyback program will run from February 12, 2020, up until August 31 this year. However, the program might end earlier on the date of the announcement of the Company's interim results for the six months ending June 30, 2020.

Gonen is not alone in his efforts to buy Plus500 shares. As Finance Magnates reported earlier this week, the company's Chief Technology Officer (CTO), Ari Shotland, bought 3,454 shares at a total price of around £27,101.7.

Omer Elazari also purchased more than £1.12 million worth of shares in the past few weeks, and Shlomi Weizmann purchased 100,000 shares, worth approximately £941,500.