JPMorgan hikes stake in Plus500 to 10.03%


Retail Forex and CFD broker Plus500 Ltd (LON:PLUS) earlier today published a report about a transaction in its shares.

The broker was notified on December 7, 2015, that JPMorgan Chase & Co. (NYSE:JPM) increased its stake in Plus500 to 10.03%. The investment bank, which is most likely acting on behalf of its clients, bought 3,699,658 ordinary shares in Plus500, thus taking the holding to 11,523,965 shares.

After the latest transaction in Plus500 shares, JPM’s holding in the broker is distributed across its subsidiaries as follows:

  • JP Morgan Asset Management Holdings (UK) Limited – 2.94% ;
  • J.P. Morgan Securities plc – 7.09%.

The transaction is reported as Plus500 is enjoying a recovery in its share price after the cancelled merger with Playtech PLC (LON:PTEC). One share in the broker traded per 490.76p at market close on Monday. This is way higher than Playtech’s bid of 400p per share.

plus500_dec8_inside

Chart source: Google Finance.

To view the official announcement on the transaction, click here.

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JPMorgan hikes stake in Plus500 to 10.03%

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