Plus500 founders cash in ?145m after selling shares for 'personal reasons'

Plus500's founders have sold ?145m worth of shares in the business weeks after warning that the trading platform's record run was coming to an end. 
Five of the businessmen who set up the Israel-based firm a decade ago have decided to halve their stake in the company "in response to significant demand from a small number of institutional investors".
The company told investors on Thursday that the founders also chose to sell 9.4m of their shares because of "their desire to diversify their investments whilst raising funds for personal reasons".
The move means that the group's founders, Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann, now own around 8pc in the group.  The shares were sold at ?15.50 each. 
Plus500 founders cash in ?145m after selling shares for 'personal reasons'

The frenzy around Bitcoin has driven Plus500's recent success
The London-listed business, which lets people bet on swings in price movements without owning the underlying asset through so-called contracts for difference (CfD) trading, has enjoyed huge success over the last year but last month warned that the "exceptional" performance is unlikely to be repeated
Market volatility and the frenzy around digital currencies such as Bitcoin has led it sign up swarms of new customers hoping to get rich quick, leading it to almost quadruple its market valuation in just 12 months and graduate to London's main market. 
However new rules aimed at protecting inexperienced punters from losing too much money on CfD trading came into effect last month. Plus500 chief Asaf Elimelech said the reduction in leverage ratios, one part of the new rules, could impact the business.  
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