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Screenshot of a breaking news alert e-mail from Q2 2017
Retail FX brokerage Plus500 Ltd (LON:PLUS) has been the subject of investment interest among many high profile financial institutions and wealth management companies since it became a publicly listed company in 2014.
Today, as per a filing by the London Stock Exchange, whose Alternative Investment Market lists Plus500 stock, it has been reported that Deutsche Bank AG (ETR:DBK) has purchased a 5.4% stake in the company.
The transaction was reported by Deutsche Bank Position Reporting Team Manager Stuart Watchorn, and took place on January 29, 2015, demonstrating that the German multinational financial giant now owns 6,183,975 shares in Plus500, placing it as a further large bank whose FX order flow remains among one of the highest in the global interbank sector which has shown interest in Plus500.
JPMorgan Chase began spurring the interest in Plus500 among large institutions, having engaged in several transactions involving the purchasing and selling of Plus500 stock, with its stake having risen to as high as 15% last summer.
JPMorgan Chase has since sold a substantial proportion of shares, which took its stake down to approximately 5% last year, however the company increased its shareholding back up to 7.8% in January 2015.
Plus500’s efficient and highly profitable modus operandi has attracted further interest from the establishment, with British wealth management company Newton Investment Management having acquired 5,885,438 shares on January 27, representing approximately 5% of the company’s stock, just two days before Deutsche Bank’s interest.
Newton Investment Management has £51 billion in assets under management and is headed by Helena Morrissey CBE, who is a mother to 9 children and founder of the Thirty Percent Club, which campaigns for 30% of FTSE-100 boardrooms to consist of women by 2015.
For the official filing from the London Stock Exchange, click here.