Plus500 taps investors for $50m as it seeks London market float

Michael Bow
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ONLINE trading platform Plus500 will today file for a London float in a bid to raise up to $50m (£32.9m) to fuel future growth.

The company, which helps punters trade contracts for difference (CFDs) on everything ranging from Bitcoin to oil prices, is seeking admission to London’s junior stock market.

Chief executive Gal Haber told City A.M.: “Aim will be an accelerator for us. The UK is our largest market and 10 per cent of our revenues come from the UK. People know what a CFD is here, investors are already familiar.”

Haber added money raised from investors would be spent on marketing campaigns to attract more users and potentially future acquisitions overseas.

The firm, based in Haifa, Israel, posted pre-tax profits of $23m in the year ending December 2012 on revenues of $56m.