Global trading platform eToro applies for a US stock IPO, aiming to raise $750 million
Global trading platform eToro Group has submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), planning to raise $750 million. eToro is committed to providing educational resources and tools for retail investors, combining social networking with investment functions. The company has approximately 3.5 million funded accounts in 75 countries, with projected revenue of $12.6 billion in 2024, and plans to list on NASDAQ under the ticker symbol ETOR. Several investment banks, including Goldman Sachs, are acting as co-book runners for this transaction
According to Zhitong Finance APP, the global trading platform eToro Group (ETOR.US), aimed at retail investors, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday, with an estimated fundraising amount potentially reaching $750 million.
eToro believes it has created a collaborative investment community designed to provide users with the educational resources and tools necessary for knowledge and wealth growth. Its platform aims to combine social networking with trading and investment functions, all integrated within a regulated digital investment platform built for financial communication and community interaction. As of December 31, 2024, eToro has approximately 3.5 million funded accounts across 75 countries worldwide.
The company, headquartered in Bnei Brak, Israel, was founded in 2006 and achieved a revenue of $12.6 billion for the 12 months ending December 31, 2024. The company plans to list on NASDAQ under the ticker symbol ETOR. It had previously submitted a confidential listing application on December 6, 2024.
Goldman Sachs, Jefferies, UBS Investment Bank, Citigroup, Deutsche Bank, Bank of America Securities, Cantor Fitzgerald, and Citizens JMP under Charles Schwab are the joint bookrunners for this transaction. The company has not yet disclosed pricing terms