Plus 500 Founders Take Advantage Of Good Results To Sell Off Shares
By Casinomeister, Last updated Oct 7, 2016
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 percent 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 percent y-o-y to reach almost $159 million, and profits grew 10 percent 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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