Odey Asset Management raises stake in Plus500 above 20%


Odey Asset Management keeps taking advantage of the low prices of shares in Plus500 Ltd (LON:PLUS), the retail FX and CFD broker, whose work has been hit by tighter regulatory demands in the UK. Whereas clients of the broker are experiencing delays in their requests processing and some have even had their accounts frozen, Plus500 share prices have been low, paving the way for some investors to build their stake.

According to a filing by Odey Asset Management, as of May 28, 2015, the wealth manager has a total 20.84% stake in Plus500, equal to 23,941,198 voting rights. The latter number reflects Odey’s ownership of 1,405,960 CFDs and 22,535,238 ordinary shares in the broker.

Across Odey’s subsidiaries, the stake is allocated in the following manner:

  • CF Odey Absolute Return Fund – 15.25%;
  • Odey Allegra Developed Markets Fund – 3.83%;
  • All other funds – less than 3%.

The latest transaction comes after Odey hiked its stake in Plus500 to 19.08% on May 25, 2015.

Shares in Plus500 have so far been strong today. At the moment of the publication of this article, one share in the broker trades around 332p. This is way above last Friday’s low of 198p per share.

plus500_inside_may29

Photo credit: Google Finance.

To view the filing with the LSE on the latest Odey/Plus500 share transaction, click here.

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Odey Asset Management raises stake in Plus500 above 20%

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