September 6, 2018 / 1:38 PM / 8 months ago

Plus500 founders to sell 8 percent stake

(This version of the September 6 story corrects first paragraph to show founders sold 8 percent stake in company, not 8 percent of their own stake)

(Reuters) - Plus500 Ltd (PLUSP.L) said on Thursday that its founders would sell about 8 percent of the company’s shares in response to significant demand from a small number of institutional investors.

Haifa, Israel-based Plus500, which provides an online platform for retail customers to trade contracts for differences, said the sale of about 9.4 million shares at 1550 pence per share would raise gross proceeds of about 145 million pounds ($187.67 million) for the founders.

After the sale, founders Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann would own about 8 percent of Plus500, it said.

Reporting by Noor Zainab Hussain in Bengaluru

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