Plus500 founders stock sale done at significant discount to market, shares down 16%


Further to our report yesterday that the founding group of retail Forex and CFD broker Plus500 Ltd (LON:PLUS) had filed plans to sell about 40% of their collective holdings in Plus500, the company has announced that the placement has concluded but at a significant discount to Plus500’s closing share price from last night.

In total (see table below), the Plus500 founders – Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann – sold 15.5 million shares via investment banks Berenburg & Co. and Liberum Capital at a price of £6.50 per share – 13% below Plus500’s closing price Wednesday of £7.50.

In total, the sale brought in gross proceeds (before paying investment banking fees) of just over £100 million, or about USD $131 million.

Plus500 itself did not receive any proceeds from the share sale.

In London Stock Exchange trading this morning Plus500 shares reacted by trading down 16%, sitting at £6.33 as of the time of writing.

The founders have agreed with Berenberg and Liberum not to sell any further Plus500 shares for a period of at least 90 days after completion of the placing. As per below, after the current sale the founding group still owns about 22% of Plus500’s shares.


Related News


Plus500 founders stock sale done at significant discount to market, shares down 16%


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: