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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned via regulatory filings that global investment bank JPMorgan Chase & Co. (NYSE:JPM) has increased its stake in retail Forex and CFD broker Plus500 Ltd (LON:PLUS) to 9.0%.
JPMorgan’s most recent filings had indicated a 5.1% interest in Plus500.
JPMorgan now holds, via its J.P Morgan Securities plc subsidiary, a total of 10,343,694 Plus500 shares worth £62.2 million (USD $78 million).
With its increased holding, JPMorgan is now the second largest shareholder in Plus500, behind only co-founder Alon Gonen, who after the recent Plus500 secondary offering holds 11.9 million shares, or about 10.3%.
Plus500 recently reported fairly strong financial results for Q3 2016. Recent indications are also that the company continues to strengthen its position in the lucrative UK CFD market, sitting behind only market leader IG Group Holdings plc (LON:IGG).