eToro Targets $40 Billion Valuation in $5 Billion US IPO

eToro, an Israeli social investment platform, has announced its intention to go public in the United States with an initial public offering (IPO) targeting a valuation of $40 billion. The company, along with some of its existing shareholders, plans to raise up to $5 billion by issuing 100 million shares. The price range for each share is set between $46 and $50.

This IPO marks a significant milestone for eToro, which has been expanding its presence in the global financial markets. The platform allows users to trade a variety of financial instruments, including stocks, cryptocurrencies, and commodities, and has gained popularity for its social trading features. By going public, eToro aims to further expand its user base and enhance its market position.

The IPO is being underwritten by a consortium of leading investment banks, including Goldman Sachs, Jefferies Financial Group, UBS Investment Bank, and Citigroup. These financial institutions will play a crucial role in facilitating the stock offering and ensuring its success. The company plans to list its shares on the Nasdaq Global Select Market under the ticker symbol "ETOR."

eToro's decision to list on the Nasdaq is indicative of its ambition to attract a broader range of investors and increase its visibility in the global financial community. The platform's social trading features, which allow users to follow and copy the trades of successful investors, have been a key driver of its growth. By going public, eToro aims to leverage its strong brand and user base to further expand its offerings and enter new markets.

The IPO is expected to provide eToro with the necessary capital to invest in technology, expand its product offerings, and enter new markets. The company has been growing rapidly in recent years, and the IPO is seen as a strategic step to further accelerate its growth. With a strong focus on innovation and user experience, eToro is well-positioned to capitalize on the growing demand for social trading and investment platforms.