Plus 500 Founders Take Advantage Of Good Results To Sell Off Shares

PLUS 500 FOUNDERS TAKE ADVANTAGE OF GOOD RESULTS TO SELL OFF SHARES

30th September, 2016 at 14:31:29
Source: http://www.azonlinecasinos.com

Israeli founders of spread betting and CFD company sell off $130 million's worth of shares.

The Israeli founders of online spread betting and CFD firm Plus500 (which Playtech's Teddy Sagi nearly bought last year) have taken advantage of a good 2015 performance by the company to sell off a substantial chunk of their holdings, between them selling over $130 million's worth of shares.

Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4% interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Following a successful half-year in which Plus500 revenue soared 25% y-o-y to reach almost $159 million, and profits grew 10% to $44.5 million, the shares sold by the founders went at around 650 pence each. Several smaller stakeholders also seized the opportunity to realise profits.

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