eToro Group Ltd said today (Monday) it is targeting a valuation
of up to $4 billion in its initial public offering in the United States, as the
platform finally moves ahead with its New York
flotation plans. eToro has started the roadshow for its planned
initial public offering. The company aims to list 10 million Class A common
shares. Half of these shares will be offered by eToro. The other half will be
sold by existing shareholders.
eToro Offers 10 Million Shares IPO
The IPO price is expected to be between $46 and $50 per
share, with eToro aiming to raise up to $500 million. eToro has applied to list its shares on the Nasdaq Global Select Market.
The proposed ticker symbol is “ETOR.” The company plans to give underwriters a 30-day option to
purchase up to 1.5 million additional shares. This would be to cover any
over-allotments.
Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup
are leading the offering. Other banks involved include Deutsche Bank, Bank of
America, and TD Securities. A number of co-managers are also listed.
Funds and accounts managed by BlackRock (BLK.N) have
expressed interest in purchasing up to $100 million worth of shares in the
offering, according to a Reuters report.
eToro Group Ltd (“eToro”) today announced that it has launched the roadshow for its initial public offering (“IPO”) of 10,000,000 Class A common shares, 5,000,000 shares of which are being offered by eToro and 5,000,000 shares of which are being offered by certain existing… pic.twitter.com/kK5XB5Szqm
— Marius Ghisea (@mariusghisea) May 5, 2025
eToro IPO Pending SEC Approval
The offering will only be made through a prospectus. A
registration statement has been filed with the U.S. Securities and Exchange
Commission. However, it has not yet been declared effective.
No shares may be sold before the registration becomes
effective. The announcement is not an offer to sell or a request to buy the
shares in any region where it would be unlawful. The IPO depends on market
conditions and regulatory approval.
‘We definitely are eyeing the public markets’: eToro CEO considers IPO after scrapped SPAC deal https://t.co/c5UFrZQpLQ
— CNBC (@CNBC) February 26, 2024
You may find it interesting at FinanceMagnates.com: eToro
Joins Robinhood in Stock Lending Arena with New Feature for European Investors.
IPO Revisited Following Cancelled SPAC Deal
In late March, eToro
publicly filed a registration statement with the U.S. Securities and Exchange
Commission, following an earlier confidential submission. The filing marked
a formal step toward its IPO plans.
This was not eToro’s first attempt to go public. A
planned $10.4 billion SPAC merger in 2021 was later cancelled due to market
conditions. In 2023, the company raised $250 million at a $3.5 billion
valuation. Toward the end of last year,
it also gained regulatory approval to offer services in New York.
The offering remains subject to market conditions and
regulatory approval. No shares may be sold until the registration becomes
effective.
This article was written by Tareq Sikder at www.financemagnates.com.
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