Deutsche Bank increases stake in Plus500 to 7.21%


Deutsche Bank AG (FRA:DBK), one of the investment banking giants on a global scale, has again raised its stake in retail Forex and CFD broker Plus500 Ltd (LON:PLUS).

A filing with the London Stock Exchange, out today, shows that on Monday (March 16, 2015), the investment bank bought 387,004 shares in Plus500, thus taking its stake in the broker above 7%. To be more precise, Deutsche Bank now holds 8,288,025 shares in the broker, which corresponds to 7.21% of voting rights.

The latest transaction comes less than two weeks after the bank cut its stake in Plus500 to 6.88%, selling a little more than 400,000 shares.

Meanwhile, Plus500’s share price continues its impressive journey upwards, a trend which we have witnessed since the broker unveiled some rather robust financial metrics for the final quarter of 2014. The company posted record revenues of USD 66.5 million for the fourth quarter of last year, with profits also staging a steep rise. Markets are also obviously appreciating the generosity of the broker: some $65 million in dividends will be paid this month.

On March 17th, shares in the broker traded in the range 685.50p – 715.00p.

Plus500 share price for the past month:

plus500_inside

Chart credit: Google Finance.

To view the official filing with the London Stock Exchange, click here.

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Deutsche Bank increases stake in Plus500 to 7.21%

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