Plus500 Repurchased 33,000 of Own Shares

Plus500 (LON:PLUS) announced that it was commencing a new share buyback program. This took place less than two weeks ago. The London listed broker had revealed on Friday that it has purchased 33,000 of its own ordinary shares.

Plus500 announced that, on the 20th of August 2020, it repurchased 33,000 of its own ordinary shares. These were its own shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.

This was in the regulatory document filed through the London Stock Exchange (LSE).

The volume-weighted average price paid per share was £14.77. So, in terms of finances, the Israel based company spent around £487,287.90 just on its latest batch of shares overall.

The highest price paid per share was £14.95, while the lowest price paid per share was £14.44.

This week, the broker has really picked up steam with its share buyback program. On August 19th, the firm repurchased 25,700 at a volume-weighted average price paid per share of £15.48.

The Israel based broker spent around £397,836.00 overall.

Plus500 Ramps up Share Buyback

Before all of this, Plus500 had been taking it slow for a while now. The company bought 4,119 of its own ordinary shares on the 11th of August 2020.

The broker bought 5,313 more shares in recent weeks on the 18th of August. This was according to documents filed through the London Stock Exchange (LSE).

The firm plans to repurchase $67.3 million worth of its own shares as part of its latest program. This starts on the 11th of August 2020 and will last up until the 28th of February 2021.

The broker may possibly end the program earlier, however. That will be on the date of the announcement of its preliminary results for the year ending on December 31, 2020.