On August 12, 2015, however, JPMorgan Chase & Co. (NYSE:JPM) reported a reduction in its holding in Plus500. The investment giant sold 604,810 shares in the broker, thus taking the size of its holding to 9,147,434 shares, or 7.96% of the voting rights.
This compares with a previous transaction that took JPM’s stake in the broker to 8.49%, or 9,752,244 shares.
After the latest transaction, the holding in Plus500 is distributed across JPM’s subsidiaries the following way:
- JP Morgan Asset Management Holdings (UK) Limited – 2.91%;
- J.P. Morgan Securities plc – 5.04%.
Shares in Plus500 closed at 372.25p on Wednesday, down 2.55% on the day and markedly below the 400p in cash every Plus500 shareholder is set to receive from Playtech, if the deal is completed.
Chart source: Google Finance.
Plus500 shareholders voted in favor of the acquisition bid by Playtech in July. The acquisition values the entire issued ordinary share capital of Plus500 at approximately £459.6 million.
Before completion, the deal needs regulatory approvals, as well as a “yes” vote at the meeting of Playtech shareholders, scheduled for August 19, 2015.
To view the official filing about the latest transaction with Plus500 shares, click here.