Plus500 founders offload £100m in shares

30 September 2016

The founders of Plus500 have generated £100.8 million (€165.2 million/$130.1 million) in aggregate gross proceeds after selling 15.5 million ordinary shares in the spread betting company.

Shares were sold at a price of 650 pence each, with the founders able to retain a holding of approximately 22% in the firm.

Alan Gonen sold 7.2 million shares, with his share now at 10.4%, while Gal Haber sold off 2.6 million shares, retaining a holding of 3.6%.

Various other individuals also sold smaller stakes in the company, which recently revealed record financial results for the six months to June 30.

Revenue in the first half hit $158.8 million, up 25% on the $127 million posted in the same period last year, while net profit was also up 10% year-on-year to $44.5 million.

Related article: Plus500 reveals record figures for first half