The recent Buyback Program started after completing another $60.2 million buyback program in November.
The Israeli-based broker said in the official statement:
The purpose of this Share Buyback Programme is to further highlight the Board’s continued confidence in the future prospects of Plus500 and reflects its strong financial position. This confidence is supported by the significant operational and financial momentum achieved by Plus500 over recent years, as the Group continues to make further progress on its strategic roadmap.
In the fiscal year 2022, Plus500 reported revenues of $832 million, an increase of more than 16% YoY, as well as an increased EBITDA of $453.8 million. Currently, the broker’s main focus is on expanding into new geographical markets.
Recently, the Dubai Financial Services Authority (DFSA) granted the broker a license, which has strengthened its presence in the Middle East.
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