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Major forex and CFD broker Plus500 (LON:PLUS) announced on Tuesday it repurchased 14,543 of its own shares as a part of the broker’s $10 million share buyback program.
According to the company announcement, on 19 June 2017, Liberum Capital acquired 14,543 ordinary shares at a price of 553.22 pence apiece, on behalf of Plus500. The shares will be held in treasury.
The buyback program started on June 2 and will run until the end of August this year. It will be funded from Plus500’s net cash balance of $191 million.
Plus500 notes that, at the date of this announcement, the company’s issued share capital comprises 114,612,834 Shares (excluding 275,543 Shares held as treasury shares), which means that the total number of shares with voting rights is 114,612,834.
At present, the market capitalization of Plus500 amounts to GBX 636.55 million, and their shares trade for GBX 552.50 apiece, up by more than 13% up compared to a month ago.
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 Android, Windows and iOS mobile operating systems. The broker is regulated in five countries – the UK, Cyprus, Australia, New Zealand, and South Africa.