The Plus500 Repurchases 33.4K Shares 

Plus500 has purchased yet another batch of its own ordinary shares. As part of its latest buyback program, the broker made a sizeable purchase of 33,400 shares.

Plus500 bought 33,400 of its own ordinary shares, according to documents filed through the London Stock Exchange (LSE). Each purchase took place through Credit Suisse Securities (Europe) Limited, on Thursday the 3rd of September. This is the fourth day in a row that it has bought back some of its ordinary shares this week.

The volume weighted average price paid per share was around £14.80 for the shares. The Israel based broker bought 33,400 and therefore, Plus500 spent around £494,156.34 on the 3rd of September.

The most recent batch of shares is in line with the latest trend of the London listed broker. In recent weeks, the company repurchased about 30 thousand of its own shares each weekday. Moreover, it spends close to £500,000 for each round.

Reports say, as part of its latest program, it plans to repurchase $67.3 million worth of its own shares. From the 11th of August 2020, it will run up to the 28th February 2021.

The broker can possibly end the program earlier. That’ll be on the date of the announcement of its preliminary results for the year ended on 31st December 2020.

For the shares repurchased on Thursday, the lowest price paid per share by Plus500 was £14.67. The highest price paid by the broker per share was £14.91, the document showed.

 

Plus500 Shares were Moving Inconsistently

Plus500’s share price has been all over the place, so far this week. It’s been a pretty eventful few weeks for the broker. At the beginning of this week, news said that the firm planned to move into mainstream stockbroking.

On Sunday, the new CEO of Plus500, David Zruia, said that it is preparing to move into physical equity trading. Specifically, Zruia outlined that the company is looking at share dealing.