Plus500 Share Price Continues to Fall, Repurchases 22.5K Own Shares

As the share price of Plus500 continues to fall, the online trading provider continues its share buyback program, with the company announcing via a regulatory filing that it has purchased 22,500 of its own ordinary shares.

On the 28th of May 2020, Plus500 purchased 22,500 of its own shares, each through Credit Suisse Securities (Europe) Limited. The volume weighted average price paid per share was £13.07. Therefore, the broker paid around £294,075.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

For the latest batch of shares, the lowest price paid per share by Plus500 was £12.94 and the highest price paid per share was £13.17, the regulatory document filed through the London Stock Exchange (LSE) showed.

Plus500 share price falls

Plus500’s share price has been on a downward trajectory this week, having fallen from £13.52 on Tuesday, the 26th of May at 09:00 GMT+1, down to £12:89 this Friday at 09:02 GMT+1. At this time, the Israel based broker’s share price has fallen by 1.68 per cent.

Overall, the share price of the London-listed broker has been on an upward trend since the 16th of March 2020. The beginning of this rise coincided with the Israel based broker revealing that it was benefiting from coronavirus-fuelled volumes in a trading update, which it published on March 16.

As Finance Magnates reported, the retail broker first announced its most recent share buyback program on the 12th of February 2020 in which the company will buy back up to an additional $30 million of its ordinary shares. This follows the completion of the firm’s previous buyback program, in which it repurchased $50 million worth of shares.

The latest share buyback program will run from the 12th of February 2020 up until the 31st of August this year. However, the program might end earlier on the date of the announcement of the company’s interim results for the six months ending 30 June 2020.

Source: Read Full Article