eToro Sets IPO Price at $52 Per Share, Surpasses Expectations

Online trading platform eToro has finalized the pricing for its expanded initial public offering (IPO) at $52 per share, coming in above its previously projected range of $46 to $50. The IPO will include the sale of 11.92 million Class A common shares.

Trading is scheduled to begin on May 14 on the Nasdaq Global Select Market, where the company will be listed under the ticker symbol “ETOR.” The offering is projected to generate approximately $620 million in gross proceeds, placing eToro’s valuation at around $4.2 billion.

Founded in 2007, eToro has grown into a prominent platform for retail investors, operating in the same competitive space as Robinhood and other digital brokerages. The funds raised from the IPO are expected to support the firm’s expansion plans and investments in technology.

As part of the offering, the underwriters have also received a 30-day option to buy up to an additional 1.79 million shares, potentially increasing the total proceeds further.

Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup are leading the underwriting efforts, joined by a group of additional banks including Deutsche Bank, BofA Securities, and Mizuho.

The IPO arrives amid a shaky market for tech-related public listings, but investor appetite for eToro appears strong, bolstered by the company’s established reputation and dual focus on stock and cryptocurrency trading.

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