Plus500 ( (GB:PLUS) ) has provided an update.
Plus500 has announced its strategic acquisition of Mehta Equities Limited, an Indian financial services company, to enter the Indian futures market. This move allows Plus500 to expand its geographic footprint into India’s large financial industry, leveraging its technology and expertise to enhance its global futures offering. The acquisition is expected to boost Plus500’s presence in the global futures market, expand its operations in one of the world’s fastest-growing economies, and create synergies with its US futures market operations. The acquisition, valued at approximately $20 million, is subject to regulatory approvals and will be funded from Plus500’s existing cash reserves.
More about Plus500
Plus500 is a global multi-asset fintech group that operates proprietary technology-based trading platforms. The company offers a range of trading products including OTC products like Contracts for Difference (CFDs), share dealing, futures, and options on futures. Plus500 is regulated in multiple countries and offers over 2,500 financial instruments across various asset classes. The company’s platforms are accessible via multiple operating systems and web browsers, and it emphasizes customer care and risk management.
YTD Price Performance: 4.13%
Average Trading Volume: 197,289
Technical Sentiment Signal: Sell
Current Market Cap: £1.99B
See more data about PLUS stock on TipRanks’ Stock Analysis page.