IN BRIEF: Plus500 bosses to sell 2% stake in company to Goldman Sachs
Plus500 Ltd - Haifa, Israel-based trading platform operator - Three top executives will sell 1.5 million existing shares, worth about £70.7 million, to Goldman Sachs International, part of New York-based investment bank Goldman Sachs Group Inc. The shares represent a 2.1% stake in Plus500. The sale will be intermediated by broker Panmure Liberum Ltd. Goldman Sachs may or may not onward sell the shares, Plus500 says.
Chief Executive Officer David Zruia will sell 450,792 shares. He will retain 1.3 million, a 1.9% stake. Chief Financial Officer Elad Even-Chen will sell 940,000, retaining the exact same shareholding as Zruia. Chief Marketing Officer Nir Zats will sell 109,208 shares, retaining 131,316.
On Monday, Plus500 started a new share buyback programme worth up to $100 million, also being run by Panmure Liberum.
Current stock price: 4,714.00 pence for £3.30 billion market capitalisation
12-month change: up 65%
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