PLUS500 (LON: PLUS), an international financial firm providing online trading services and CFDs, on Wednesday has announced that the UK Listing Authority has approved the company’s request in relation to the inclusion of the company’s shares to the premium listing segment of the Official List of FCA. It has also been approved to trading on the London Stock Exchange plc’s Main Market for listed securities.
This is a significant achievement for the PLUS500 team. London’s main market is for large and established companies while AIM is a more suitable venue for listing emerging companies that do not meet the full criteria for admission to the main market. PLUS500 has announced its intention to list it to London Main Market from the AIM market last month only. The Israeli based firm has been trading in the AIM market since its IPO in 2013
As per the announcement, the shares of PLUS500 are expected to start trading in the main market from 8AM on Tuesday, June 26, 2018, and trading on AIM will be called off simultaneously.
The inclusion was aided by strong financial performance over the years and in Q1 of 2018, it has reported a triple-digit growth in revenue, which was due to starting of cryptocurrency offerings. It posted a 284 per cent increase in revenue to $297.3 million, with a net profit of $237.3 million, up 418 per cent year-over-year in the first quarter. The Company’s share price has more than doubled in the last few months and upon yesterday’s announcement, the shares closed at 2.35 per cent higher on Wednesday to £1,613, reaching a total market capitalization of £1.83 billion.
The company issued statement:
“The Company is not raising any funds or issuing any new shares in connection with Admission. The Company’s TIDM code on the London Stock Exchange will continue to be PLUS and its ISIN will remain IL0011284465 and its SEDOL number BBT3PS9. On Admission, the Company’s issued share capital will be 114,888,377 shares, of which 980,146 are treasury shares.”