Plus500’s board of directors has approved the extension of the company’s current share buyback programme, allocating additional $12.6 million to acquire ordinary shares from the open market.
This is an expansion of Plus500’s existing share buyback program, which has already purchased $12.6 million worth of shares from its beginning in August until 27 October. The program will run until 28 February 2022 or until the allocated shares are acquired.
The official statement said:
The purpose of the programme is to emphasize the Board’s confidence in the prospects of Plus500 and reflects the robust financial position of the Group, as highlighted in the Group’s Q3 2021 trading update earlier this week.