The Israel-based crypto and stock trading platform, eToro, has reached a major milestone ahead of its Nasdaq debut. With an initial public offering (IPO) price of $52 per share, eToro effectively exceeded its target range of $46 to $50.
While offering over 11.92 million shares, the firm raised almost $620 million at a market valuation of almost $4.3 billion.
As per the official release, the offering consists of 5,961,509 Class A common shares, which are to be sold by eToro and a similar number of shares to be sold by existing shareholders.
The trading for eToro shares is scheduled to start today, May 14, 2025, under the ticker ETOR. It has backing from several prominent financial giants like Goldman Sachs, Jefferies, UBS, and Citigroup.
This public offering marks a major turning point for eToro, which had previously attempted to go public through a merger with a special purpose acquisition company (SPAC) valued at $10.4 billion, a plan that was ultimately canceled in 2022.
eToro is a global multi-asset investment and trading platform that allows users to trade and invest in various financial instruments, including stocks, cryptocurrencies, commodities, forex, ETFs, and indices.
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