UK Listing Authority Approves Plus500’s Move to LSE Main Market

Plus500 on Wednesday said it ‎has been notified by the UK Listing Authority, the name given to the FCA when acting in its listing capacity, that its request to list on the London Stock Exchange’s main market has been approved.

London’s main market is the flagship market for larger, more established companies, while AIM is a more suitable venue for listing growing companies that might not meet the full criteria for admission.

Israeli-based but London-stock market listed CFD provider Plus500 has grown significantly in both operations and capitalization since its IPO in London’s junior Aim market in 2013. In addition, Plus500 reported a triple-digit jump in revenues and profits in Q1 2018, thanks in part to the popularity of its cryptocurrency offerings.

The company’s share price has more than doubled over the past few months. As such, Plus500 believes that a move to the senior market of 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 is now appropriate. Furthermore, the directors believe that this move will improve the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the company's shares.

Shares in Plus500 closed up 2.35 percent on Wednesday to £1,613, giving the company a market capitalization of £1.83 billion.

Plus500 said it expects its shares to be admitted to the main market and simultaneously canceled on Aim on June 26.

It further explained: “The Company is not raising any funds or issuing any new shares in connection with Admission. The Company's TIDM code on the London Stock Exchange will continue to be PLUS and its ISIN will remain IL0011284465 and its SEDOL number BBT3PS9. On Admission, the Company's issued share capital will be 114,888,377 shares, of which 980,146 are treasury shares.”

Plus500 was formed in 2008 and is currently one of the biggest CFD, FX and spread betting providers in the ‎United Kingdom, trailing behind IG. According to the firm’s annual financial statement for the first-quarter, ‎Plus500 posted a whopping 284 percent increase in revenue to $297.3 million, with a net profit of $237.3 million, up 418 percent year-over-year. ‎

However, Plus500’s CEO Asaf Elimelech said the upbeat performance could be impacted by the ESMA new measures.