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Trading in the share will begin on Wednesday, July 24.
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CEO Gal Haber(R) and his co-founder Alon Gonen (L)
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/ By Ilan Shavit /
Plus500, the developer and operates an online trading platform for retail customers to trade CFDs (Contracts for Difference) in over 50 countries, has reported the successful pricing of its IPO (initial public offering) ahead of admission to trading on on London’s Alternative Investment Market (AIM), which is expected to take place this week.
The net proceeds will be used to invest in additional marketing activities to increase brand awareness of Plus500; penetrate new markets and accelerate growth in existing markets; strengthen the Group’s balance sheet and capital base; give the Group additional flexibility when assessing potential acquisitions; and maintain reserve capital surplus to the Group’s existing mandatory regulatory capital requirements.
Plus500 CEO Gal Haber said, “We are delighted with the strong level of support from institutional investors which is testament to our future prospects. The placing and subsequent admission to AIM will support our business as we seek to deliver on our growth plans. We believe that we have built an attractive and scalable business, underpinned by the group’s proprietary technology and self-developed trading platform.”
