Israel-based platform eToro has reached a significant milestone ahead of its Nasdaq debut.
Overview of the Share Offering
eToro has announced its initial public offering (IPO) with a share price of $52, exceeding the initial target range of $46 to $50.
Financial Highlights of the Offering
Through this IPO, eToro offered over 11.92 million shares, raising nearly $620 million at a market valuation of almost $4.3 billion. The total includes 5,961,509 Class A common shares to be sold by eToro and an equivalent number to be sold by existing shareholders.
Historical Context of eToro
This public offering marks a significant turning point for eToro, which previously attempted to go public through a merger with a special purpose acquisition company (SPAC) valued at $10.4 billion, a plan that was ultimately canceled in 2022.
In summary, eToro’s successful IPO signals a new chapter in the company’s history and underscores its relevance in the global financial market.
