Following the report of Teddy Sagi’s Plus500 buyout, news about higher demand for the popular retail and CFD broker Plus500 are coming on daily basis with Odey Asset Management and JPMorgan lifting their stake.
Odey Asset Management only week ago raised its stake above 18% and the challenge for owning larger portion of Plus500 continues as Odey now increased its stake even further. Since June 1, 2015, when the transaction took palce, Odey owns 25.49% of Plus500.
From Odey’s units, CF Odey Absolute Return Fund owns 19.31%, Odey Allegra Developed Markets Fund owns 4.52%, the rest below 3%.
Moreover, the investment bank JPMorgan, informed on June 1, 2015, that it owned 5.30% of Plus500 in 6,091,218 shares, raising them by 837,139.
From JPMorgan’s units, JP Morgan Asset Management Holdings Limited owns 4.027%, while J.P. Morgan Securities plc has portion of 1.275%.
According to the filing with the London Stock Exchange, as of Monday the bank held a total of 6,091,218 ordinary shares in Plus500, which means that it boosted its stake in the broker via the purchase of 837,139 shares.
It is interesting to see, how JPMorgan sold Plus500 shares before and now its turning and buying again.
The major issue naturally comes from Teddy Sagi’s Playtech, which has agreed to provide shareholders 400p a share, so market players took advantage of the situation and are buying when the price on the market is below 400p, closing at 353p on Tuesday.
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