CFD broker Plus500 now up 45% from its July IPO valuation.
This has got to be whetting the appetite of every privately held retail forex broker contemplating going public…. CFD broker Plus500, which along with Hong Kong broker KVB Kunlun broke the nearly 3 year drought in retail forex IPOs this past summer, has seen its shares rise dramatically since reporting summary Q3 results last week.
In the two trading days since Plus500 reported Q3 revenues — which actually came in below first half 2013 levels — Plus500 shares (LON:PLUS) have risen a total of 35%, bringing their total post IPO tally to a 45% return. Not bad for three months work.
Stock market investors now value Plus500 at about $325 million.
Despite the rise in Plus500’s shares, insiders in the company appear to be buying, not selling. Plus500 reported that non-executive director Charles Fairbairn purchased two separate lots of 50,000 Plus500 shares on Thursday and Friday last week, bringing Mr. Fairbairn’s total holdings to 165,217 shares.
Plus500 (LON:PLUS) share price from IPO in July 2013 to present. Source: Yahoo! Finance.