Plus500’s founders still own 35.6% of the company
Publicly listed CFD trading platform provider Plus500 is reporting that the founders of the company have successfully placed and sold a total of 20,000,000 ordinary shares at a fixed price of 500 pence per share. The price represents about a 10% discount to where Plus500 shares have been trading in the past day or so.
Total proceeds of the Plus500 secondary offering amounted to £100 million ($167 million). That said, the founders of the company still own a pretty substantial total of the underlying stock – currently 40,932,547 ordinary shares, or 35.6% of the company.
The ‘Founders’ selling in the secondary offering include:
The Placing of Shares amounted to 17.4% of the company’s issued capital. Despite the sale, the company’s founders are still holding more than 35% of Plus500’s total float. The closing of the placing is expected to occur on the 4th of March, while all of the shares sold will be entitled to both the regular dividend payment and the special dividend that was additionally announced on the 19th of February with the company’s announcement of its preliminary Q4 results.
For the full press release visit Plus500’s investor relations website.