Odey Asset Management hikes stake in Plus500 to 21.33%

Odey Asset Management has kept building its stake in Plus500 Ltd (LON:PLUS), with the latest transaction in broker’s securities taking place on Friday last week. As of May 29, 2015, the wealth manager held a 21.33% stake in the CFD broker.

The most recent increase in the stake happened via a purchase of 568,199 CFDs, which took Odey’s holding in Plus500 to 1,974,159 contracts for difference and 22,535,238 shares.

Across Odey’s subsidiaries, the securities are distributed in the following manner:

  • CF Odey Absolute Return Fund -15.63%;
  • Odey Allegra Developed Markets Fund – 3.93%;
  • All other funds – less than 3%.

The filing with the London Stock Exchange shows that the transaction took place last week, that is, when there was no announcement yet on the deal between Teddy Sagi’s Playtech PLC (LON:PTEC) and Plus500. The news about the agreement was reported this morning – Playtech will acquire all of the issued share capital of Plus500 in a deal worth about £459.6 million.

Playtech will pay Plus500 shareholders 400p per share. This is way above the current share price of the broker. At the moment of publication of this article, one share in Plus500 trades for 374p.


Photo credit: Google Finance.

The official announcement on the latest Odey transaction with Plus500 securities can be found by clicking here.

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