Licence follows recent moves into New Zealand and Israel
Companies: Plus500 Ltd.
CFD platform Plus500 on Thursday announced that it will be extending its offering to South Africa, after being awarded an operating licence from the Financial Services Board there.
The South African authority that oversees non-banking financial services industry, granted the Company's Australian operating subsidiary a licence to operate an online trading platform for retail customers in South Africa.
The news will be welcomed by investors and follows recent additions of licences in New Zealand and Israel.
It comes two days after PLUS published record-breaking results which sent its share price soaring 13% in early trading, before losing much of the gains throughout the rest of the day.
CEO Asaf Elimelech said he was delighted that PLUS had been granted the licence, which follows the recent additions of New Zealand and Israel:
"This is in line with our strategy, stated in our preliminary results this week, to add new licences in order to expand our customer base globally and diversify our geographical revenues."
Mr Elimelech said the licence would complement the firm's recent sponsorship of the Brumbies, who play teams based in Australia, South Africa, New Zealand, Argentina and Japan, as part of the international Super Rugby competition.
