eToro announces IPO with 10 million shares on offer
eToro launches IPO roadshow
eToro, a leading global platform for trading and investment, has officially launched its roadshow in preparation for an initial public offering (IPO), marking a major milestone on its path to becoming a publicly traded company.
According to a recent announcement, the company plans to offer 10 million Class A common shares, equally split between eToro itself and several existing shareholders.
The IPO is expected to be priced between $46 and $50 per share. In the event of strong demand, eToro has granted underwriters a 30-day option to purchase an additional 1.5 million shares to cover potential over-allotments. Upon listing, eToro's shares will trade on the Nasdaq Global Select Market under the ticker symbol “ETOR.”
Underwriters and market strategy
The IPO is supported by a consortium of leading financial institutions. Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank, and Citigroup are acting as lead book-running managers. Additional book-runners include Deutsche Bank Securities, BofA Securities, Cantor, Citizens Capital Markets, Keefe, Bruyette & Woods (a Stifel company), Mizuho, and TD Securities. Co-managers include Canaccord Genuity, Moelis & Company, Needham & Company, Rothschild & Co, and Susquehanna Financial Group.
This broad base of institutional backing reflects strong investor interest and suggests that eToro is aiming for a confident debut in the public market.
Offering details and legal disclaimer
The offering will be conducted exclusively through a prospectus in accordance with U.S. securities law. A preliminary prospectus has already been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. Investors may obtain copies through the EDGAR system on the SEC’s website or from the lead underwriters once available.
The company emphasized that the offering is subject to SEC approval and prevailing market conditions. The sale of shares can only proceed once the registration statement becomes effective.
Strategic outlook
eToro’s IPO represents a significant step in the company’s growth, amid surging interest in retail trading platforms. Going public is expected to provide the firm with capital to enhance its technology, expand its user base, and strengthen its market position.
With a strong brand and a global reach, eToro’s IPO will serve as a key indicator of investor appetite for fintech and online trading services.
Notably, eToro recently made a bold move by expanding its crypto offering with the addition of 29 new digital assets.
