Morgan Stanley sells down Plus500 Ltd stake to below 3%

LeapRate has learned via filings made to the London Stock Exchange that global investment bank Morgan Stanley (NYSE:MS) has sold down its stake in FCA regulated retail forex and CFD broker Plus500 Ltd (LON:PLUS) to below 3%.

Morgan Stanley had been the second or third largest outside shareholder in Plus500 at just under 7%, after UK investment manager Odey Asset Management LLP and JPMorgan Chase & Co. (NYSE:JPM). Odey is still sitting at about a 23% holding in Plus500, and JPMorgan has a 7.5% interest in Plus500.

Morgan Stanley took a 6.8% position in Plus500 at the end of last year, soon after Plus500’s $700 million acquisition by Playtech PLC (LON:PTEC) was called off. Plus500’s other large outside shareholders (mainly Odey) opposed the sale to Playtech, at least at the proposed £4-per-share price believing that it was too low.

And it looks like they were right, at least from today’s perspective.

With Plus500 shares now at £6.10 per share – more than 50% above Playtech’s offer price – it looks like Morgan Stanley did fairly well on their six-month investment in Plus500. Assuming that they sold out their entire position (which we don’t know, the filings just indicate that they sold down to below 3%), Morgan Stanley’s profit on the deal should be about £16.4 million (USD $24 million).

Related News


Morgan Stanley sells down Plus500 Ltd stake to below 3%


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: