JPMorgan cuts stake in Plus500 to 6.66%


Retail Forex and CFD broker Plus500 Ltd (LON:PLUS) has just reported of a transaction in its shares.

A regulatory filing dated September 24, 2015, shows that JPMorgan Chase & Co. (NYSE:JPM) reduced its holding in the broker to 6.66%. The investment bank (which is probably acting on behalf of its clients) sold 1,491,359 ordinary shares in Plus500, taking its holding down to 7,656,075 shares.

The holding is distributed across JPM’s subsidiaries in the following way:

  • JP Morgan Asset Management Holdings (UK) Limited holds 2.29%;
  • J.P. Morgan Securities plc holds 4.36%.

The latest transaction marks a further reduction in JPM’s stake in Plus500, after in August this year the investment bank cut its holding in the broker to 7.96%.

One share in Plus500 trades at 369.03p at the moment of publication of this article, markedly lower than the 400p per share shareholders in the broker are set to receive under the acquisition proposal from Playtech PLC (LON:PTEC).

plus500_shares_inside_sep25

Chart source: Google Finance.

To view the official regulatory filing, click here.

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JPMorgan cuts stake in Plus500 to 6.66%

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