eToro aims for $4B valuation, $500M raise for US IPO
eToro Group seeks a valuation of up to $4 billion with its upcoming IPO on the Nasdaq, aiming to raise $500 million by offering 10 million shares priced between $46 to $50. The offering includes 5 million shares from eToro and 5 million from existing shareholders, including co-founders Yoni and Ronen Assia. eToro targets retail stock and crypto trading and plans to list under the ticker “ETOR.” Interest from BlackRock funds indicates potential purchases of up to $100 million. eToro reported a revenue increase from crypto, projecting $12.1 billion in 2024. Risks include user retention challenges due to negative perceptions of cryptocurrencies and regulatory pressures from US state-level laws and EU’s MiCA regulations. The IPO was initially confidentially filed in January but was delayed due to market impacts from Trump’s tariff announcements. The offering is led by Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup.
