Blackrock Takes 7% Stake in Trading Firm Plus500
Earlier this month, London-listed online gambling company Playtech PLC announced it has sold its 10% stake in Plus500 for gross proceeds of around 176 million pounds
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New York-headquartered BlackRock is considered to be the world's largest asset manager, with around $6.2 trillion assets under management.
Plus500’s stock has seen a meteoric rise of hundreds of percentages since its low point in May 2015, when its stock crashed due to regulatory difficulties in the U.K. The company reported record revenues of $465.5 million and earnings per share of $2.3 for the first half of 2018. Its stock fell around 31% since its August 9 high point, however, despite its strong results.Earlier this month, London-listed online gambling company Playtech PLC announced it has sold its 10% stake in Plus500, acquired in 2015 following the stock crash as a prequel to an acquisition offer that did not pan out, for gross proceeds of around 176 million pounds (around $227.5 million).