Israeli online trading platform eToro announced Monday that it is aiming for a valuation of up to $4 billion in its long-anticipated initial public offering (IPO) on the Nasdaq, marking a major step forward after previous delays.
Bnei Brak-based eToro, along with some existing shareholders, plans to offer 10 million shares priced between $46 and $50 each, seeking to raise as much as $500 million.
Market backdrop
The IPO comes as stock markets show renewed stability following recent trade tensions, offering companies a window to tap public markets. eToro’s debut on the tech-heavy Nasdaq will serve as a key test of investor appetite for IPOs in the post-tariff turmoil era.
The company had postponed its investor presentations last month due to market volatility, Reuters previously reported.
About eToro
Founded in 2007 by Yoni Assia and Ronen Assia, eToro operates a popular platform that allows users to trade stocks, cryptocurrencies, and other assets. It boasts more than 40 million users across 75 countries.
eToro’s earlier effort to go public via a $10.4 billion SPAC merger with FinTech Acquisition collapsed in 2022. In 2023, the company raised $250 million in funding at a $3.5 billion valuation.
Key investors and underwriters: Asset management giant BlackRock has signaled interest in purchasing up to $100 million of shares in the IPO. The lead underwriters are Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup.
eToro will trade on the Nasdaq Global Select Market under the ticker symbol “ETOR.”
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