6th Sep 2018 15:27
LONDON (Alliance News) - Online trading platform Plus500 Ltd said Thursday that its founders sold a total of 9.4 million shares in the company.
The company, which is set to join the FTSE 250 index later in September following Wednesday's review, said that Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann have disposed the shares in response to "significant demand from a small number of institutional investors".
The founders sold the shares, representing a 8% stake in the company, at 1,550.00 pence each for a total of GBP145.5 million. The company said that the price represents a 2.3% discount to Wednesday's closing price.
Plus500 shares were trading 0.8% higher at 1,599.00p on Thursday.
After the sale, the founders will continue to hold a total 8% stake in the company.
The shares were sold through Liberum Capital Ltd to a limited number of investors, Plus500 explained. The company will not receive any proceeds from the sale.
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