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Investors sell more than 20 million Plus500 shares

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Investors sell more than 20 million Plus500 shares

The founders of Israel-based online trading platform operator Plus500 Ltd. sold an aggregate 9.39 million ordinary shares in the company for £15.50 per share, raising gross proceeds of roughly £145.5 million.

Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann will not sell further ordinary shares in the company within 90 days after the transaction completion, subject to waiver by Liberum Capital Ltd., through which the shares were sold to a limited number of investors.

After the stake sale, the founders will continue to hold 8% of Plus500's issued share capital. Plus500 will not receive any proceeds from the sale.

Separately, gambling software developer Playtech PLC said it sold its entire holding in the company of roughly 11.4 million ordinary shares at £15.50 per share, raising gross proceeds of approximately £176 million.

The shares represent about 9.99% of Plus500's issued share capital.

Playtech, which intends to use the proceeds for general corporate purposes and debt reduction, said the sale will not impact its entitlement to an interim dividend announced by Plus500 in August, equivalent to roughly $16 million.