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Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS), has sold a little over 1% of them.
According to the filing with the LSE, Morgan Stanley has sold 1.14% of its shares and now holds 5.85% of the stakes in the forex broker. Their number is 6,718,528 and are valued at GBP 4.4 million, based on the average price per share on April 13, when the transaction took place.
Earlier this month another major stakeholder – JP Morgan chase offloaded almost two thirds of its shares, ignoring the “buy” recommendation of the German investment bank Berenberg.
Meanwhile, Plus500 reported record high revenues in the first quarter of this year and ranked fourth in market capitalization on April 19.
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. It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS 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).