Plus500 Repurchases Nearly £500K in Shares as Momentum Continues in H2

Despite a busy week for Plus500, the London listed broker continued its share buyback program, closing out the week by purchasing more than 32,000 of its own ordinary shares, Finance Magnates has learned.

According to a document filed through the London Stock Exchange (LSE) this Monday, Plus500 repurchased 32,994 of its own ordinary shares, each through Credit Suisse Securities (Europe) Limited, on 18th September 2020.

As Finance Magnates reported, last week was particularly busy for Plus500, with the firm revealing that the strong performance achieved in the first six months of the year has continued in the second half.

In particular, Plus500 outlined that operational momentum had continued into H2 2020, allowing the broker to make ‘excellent progress’ across all of its key commercial and financial performance metrics.

Plus500 Spends Nearly £500K on Shares

The volume weighted average price paid per share by the broker was £15.15. Therefore, Israel based online contracts for difference (CFD) trading provider, spent around £499,859.1 for the latest batch of shares.

Across more than 32,000 shares, the lowest price paid per share by Plus500 was £14.81, and the highest price paid per share was £15.24 on Friday, 18th September 2020.

Overall, Plus500 repurchases between 30,000 and 35,000 of its own ordinary shares and spends close to £500,000 per batch, with the occasional exception.

At the same time as announcing its record financial results for the first six months of this year, Plus500 announced that it would be commencing yet another share buyback program back in August. In its latest buyback round, the online contracts for difference (CFD) trading provider is planning on repurchasing $67.3 million worth of its own shares.

In its prior share buyback program, the contracts for difference (CFD) trading provider repurchased $38.9 million of its own ordinary shares. The program concluded during the first half of 2020.