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Screenshot of a breaking news alert e-mail from Q2 2017
Whereas to many the freefall in the share price of retail FX and CFD broker Plus500 Ltd (LON:PLUS) yesterday might have seemed as a cause for concern, to others it provided an investment opportunity.
This was demonstrated by Odey Asset Management, as the wealth management firm acquired 1,605,000 shares in the broker on Monday (May 18, 2015), taking the size of its shareholding in Plus500 to 16,185,198 shares.
After the transaction, Odey Asset Management holds a 14.09% stake in the broker, giving the company the same percentage of voting rights. CF Odey Absolute Return Fund holds 10.81%. All other funds hold less than 3%.
The latest acquisition of shares in Plus500 builds on an earlier purchase of shares in the broker by the wealth management expert. On April 22, 2015, Odey said it had increased its stake in the broker to 13%.
Meanwhile, the shares in Plus500 saw further decline in prices today. One share in the broker is trading at 411p at the time of the publication of this article.
Chart (source: Google Finance) shows continued slide in Plus500 share prices today.
To view the official filing with the London Stock Exchange, click here.