London Stock Exchange welcomes Plus500 to AIM
Wednesday 24th July 2013
London Stock Exchange today welcomed Plus500 to open its UK Markets, marking the admission of its shares for trading on the AIM market.
Plus500 develops and operates an online trading platform for retail customers to trade Shares, Indices, ETFs, Commodities, Foreign Exchange as CFDs (Contracts for Difference) in over 50 countries. The Company successfully raised US$75 million at a placing price of 115 pence per share giving Plus500 a market capitalisation of circa US$ 200 million at admission.
The Group's net proceeds of the Placing will be used to invest in additional marketing activities to increase brand awareness; 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.
Gal Haber, Chief Executive Officer of Plus500, commented:
“We are delighted that Plus500’s shares have been admitted to the AIM market of the London Stock Exchange and thank our institutional investors for all their support. We believed that our admission to AIM will help to rapidly expand our business which will in turn reward our shareholders.”