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Plus500 Purchases £296K of Own Shares

As the share price of Plus500 starts off Friday on a mixed footing. It has revealed by a regulatory filing that it has purchased a further 23,000 of its own ordinary shares. This is part of its share buyback program.

The London-listed broker showed that on the 30th of April, 2020, it repurchased 23,000 of its own shares. It was at a volume-weighted average price of £12.89. Thus, the company has paid around £296,470 for the latest batch of shares.

It plans to repurchase a total of $30 million of its own ordinary shares. This is still a part of its most recent buyback program announced on the 12th of February, 2020. The company expects to complete this by the 31st of August 2020. 

However, the program might end earlier. It might end on the date of the announcement of its interim results for the six months ending June 30. 

Plus500 paid a maximum of £12.995 per share, and a minimum of £12.75, for the latest batch.

The statement filed through the news service of the London Stock Exchange said today.

Plus500’s Share Price

Since the 16th of March 2020, the company’s shares have been on the rise. Stocks have been increasing from £7.31 and hitting a high of £12.90 on Thursday of this week. 

At the time of publishing, the Plus500 share price is currently in the green. The beginning of this rise coincided with the Israel based broker indicating that it was benefiting from coronavirus-fuelled volumes. The company has announced this information on the 16th. 

It has continued to see a significantly increased level of customer trading activity since its last trading update. Specifically, the broker said following the Trading Update issued on the 28th of February 2020. It continued to see a significantly increased level of trading activity alongside strong momentum across all financial and operational KPIs.

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