Plus500, of contracts for differences (CFDs), announced this Wednesday through a regulatory filing that it has purchased a further 22,800 of its own ordinary shares.
According to the regulatory filing through the London Stock Exchange (LSE) today Plus500 has repurchased 22,800 of its own ordinary shares on the 5th of May, 2020, at a volume-weighted average price paid per share of £13.06.
Therefore, the Israel based broker has spent around £297,768 for the latest batch of shares. The lowest price paid per share was £12.91 and the highest price paid per share was £13.20, the document said.
Plus500 plans to repurchase a total of $30 million of its own ordinary shares as part of its most recent buyback program announced on the 12th of February, 2020. The company expects to complete this by 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 June 30, 2020.
Plus500 share price in red
At the time of reporting, the share price of Plus500 is in the red for the day, however, the broker is still continuing its upward trend, having been on a rising trajectory since the 16th of March, 2020.
The beginning of this rise coincided with the Israel based broker revealing that it was benefiting from in a trading update, which it published on the 16th of March.
As, it has continued to see a significantly increased level of customer trading activity since its last trading update. Specifically, the broker said: “Following the Trading Update issued on 28 February 2020, the Company has continued to see a significantly increased level of customer trading activity alongside strong momentum across all financial and operational KPIs.”
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