Major Plus500 stakeholders reduce their shares

Major Plus500 stakeholders reduce their shares

Shares of the London Stock Exchange (LSE)-traded UK forex broker Plus500 (LON:PLUS) have changed hands in the past several days. According to the official regulatory publications on the LSE website, two of the major stakeholders in the broker – the US mutinational financial services firm JP Morgan Chase and the hedge fund Odey Asset Management have slightly reduced their shares in the company.

As a result of the transactions, JP Morgan Chase has reduced its share from 10.03% towards the end of February to 7.48% on March 8. On March 3 it has sold some stock, reducing its share to 6.99% and several days later bought some, to reach the current figure.

jp morgan chase plus500
JP Morgan Chase shares as of March 8, 2016

In the same period Odey Asset Management also sold some shares and now holds 23.95% of Plus500. In the several past months the hedge fund has been consistently reducing its share in the forex broker. Since December last year it has dropped by 1.5%.

oday plus 500 shares
Odey Asset Management shares as of March 9, 2016

Besides Alon Gonen, the founder of Plus500, JP Morgan Chase and Odey Asset Management, another major shareholder is the US multinational financial services company Morgan Stanley. It holds 6.81% of the shares.

Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and mobile operating systems. According to Investment Trends report from July 2015,  Plus500 is the second largest CFD provider in the UK. It is licensed by three regulators – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).

In the middle of February Plus500 released its preliminary unaudited results for 2015. According to them it generated revenues of $275.6 million and had a net profit of $96.6m. Over the same period its active customers increased 29% to 136 540. In 2015 Plus500 attracted 84 858 new customers.


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