eToro Group, a global trading platform for retail investors, announced terms for its IPO on Monday.
The Bnei Brak, Israel-based company plans to raise $480 million by offering 10 million shares (50% secondary) at a price range of $46 to $50. Cornerstone investors have indicated on $100 million worth of shares in the offering (21% of the deal). At the midpoint of the proposed range, eToro Group would command a fully diluted market value of $4.5 billion.
eToro believes it has built a collaborative investment community designed to provide users with the educational resources and tools they need to grow their knowledge and wealth. Its platform aims to combine a social network with the ability to trade and invest, all within a regulated, digital investment platform purpose-built for financial discourse and community. As of December 31, 2024, eToro had approximately 3.5 million Funded Accounts across its global footprint of 75 countries.
eToro Group was founded in 2006 and booked $931 million in total commission for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol ETOR. Goldman Sachs, Jefferies, UBS Investment Bank, Citi, Deutsche Bank, BofA Securities, Cantor Fitzgerald, and Citizens JMP are the joint bookrunners on the deal. It is expected to price during the week of May 12, 2025.
