According to Bloomberg, PANews reported on May 14th that Israeli social investment platform eToro Group Ltd. and some shareholders raised nearly $620 million in an expanded U.S. initial public offering (IPO), priced higher than the previously announced range. Tuesday's statement showed that the company and investors sold 11.92 million shares at $52 per share. Previous documents indicated that BlackRock-managed funds and accounts intended to purchase up to $100 million worth of eToro stocks at the IPO price. Based on the number of circulating shares, this pricing values eToro at approximately $4.3 billion, with a fully diluted valuation of nearly $5 billion.
eToro originally planned to promote the issuance of 10 million shares, priced between $46 and $50 per share, but the actual pricing was higher, and demand was several times the number of issuable stocks. The statement also noted that eToro provided 5.96 million shares, with associated companies like Spark Capital and executives providing another 5.96 million shares, and reserving up to 500,000 shares for sale through a directed share increase plan. IPO documents showed that the company's net contribution in 2024 was $787 million, with a net profit of $192 million, higher than the previous year. This IPO was led by Goldman Sachs, with eToro stocks expected to be listed on the Nasdaq Global Select Market under the ticker ETOR.
Previous reports indicated that eToro's goal was to achieve a $4 billion valuation and $500 million in financing through the U.S. IPO.
