Plus500 expands share buyback program with another $12.6 million

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.

Plus500 new share buyback program

The company noted that all shares repurchased through the programme will be classified as shares held in treasury and will be taken out from circulation.

According to the official announcement, all share purchases will take place in the open market. Liberum Capital Limited was appointed to manage this new programme.

The London-listed forex and CFDs broker allocated additional funds to the programme following its financial results for the third quarter of 2021. Plus500 registered a revenue drop of 2% during Q3.

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