24th May 2018 12:29
LONDON (Alliance News) - Plus500 Ltd said Thursday its intends to apply for admission to the Main Market of the London Stock Exchange and cancel its shares on the junior AIM market.
The financial firm expects its shares to start trading on the London Main Market on June 25. The same day it will cancel its listing on the AIM.
Shares in Plus500 were up 4.3% to 1,690.00 pence each Thursday.
Chief Executive Officer Asaf Elimelech said: "Since our AIM IPO in 2013, we have grown the business many times over and become a more mature business in governance, regulatory and reporting terms. We therefore believe now is the right time to seek the listing to help further advance our ambitious global growth plans. The recent announcement of regulatory changes to the CFD industry by ESMA has also ensured that the framework in which we operate is now the clearest it has ever been.
"We believe that the listing and our shares being traded on the Main Market will provide a number of benefits for shareholders, including increasing the company's profile and status, providing currency for growth and facilitating potential inclusion in FTSE indices. Together these developments are expected to enhance the liquidity of the company's shares and provide a greater range of potential investors for the company both in the UK and overseas, reflecting the global nature of its business."
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Plus500