eToro prices IPO above range at $52 a share to raise $620M
Summary
eToro has increased its initial public offering (IPO) size to $620 million by pricing shares at $52, above the initial range of $46 to $50. The offering includes over 11.92 million shares, with trading set to begin on the Nasdaq under the ticker ETOR on May 14. The IPO will remain open until at least May 15, featuring equal shares sold by eToro and existing shareholders. eToro aims to compete with Robinhood Markets Inc., whose shares have risen over 67% this year. Other companies, including Chime, Kraken, and BitGo, are also exploring IPOs. Chime plans to list under the ticker CHY, with potential to raise up to $1 billion. In 2021, Coinbase became the first major crypto firm to go public in the US.
