eToro Group Ltd has announced its intention to conduct an initial public offering (IPO) in the US, estimating its value at approximately $4 billion. As part of this process, the company plans to raise $500 million by issuing 10 million Class A ordinary shares at a price ranging from $46 to $50 per share. These shares will be available for trading on the Nasdaq under the ticker ETOR.
This is reported by Finway
Filing with the SEC
eToro has already submitted its application to the US Securities and Exchange Commission (SEC), but noted that it has not yet taken effect. Key underwriters in this process include financial institutions such as Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank, and Citigroup.
Investor Interest and Market Conditions
In its filing with the SEC, eToro mentioned that the BlackRock fund expressed interest in purchasing shares worth $100 million at the IPO price. Additionally, the company has reserved about 500,000 shares for its target program.
In early April 2025, it was reported that eToro had suspended its IPO presentation due to unfavorable market conditions related to the tariff policy of President Donald Trump’s administration. In 2021, the company had already attempted to go public on Nasdaq through a merger with a special purpose acquisition company (SPAC), but this plan failed, despite eToro’s valuation at that time being $10.4 billion.
After abandoning the SPAC deal, eToro entered into an advanced investment agreement (AIA), raising $250 million. In June 2023, the company suspended support for a number of tokens in the US due to regulatory pressure, and later removed nearly all crypto assets from its trading platform.
“We strive to adapt to changing market conditions and regulatory requirements.”