Israel-based crypto trading platform eToro plans U.S. IPO that would value it at $4 billion
Etoro has resumed the Israeli -based investment trading platform, to resume its plan for the public in the United States after the company arrested the operation earlier this year amid market fluctuations after president Trump’s introductory announcement.
Etoro, which allows customers to trade both shares and encryption, plans to raise $ 500 million in an initial public offer (IPO) that would estimate the company at an amount of up to $ 4 billion, according to an organizational report from the two.
The company and some of its shareholders are planning to provide a total of 10 million shares at an expected price per share ranging from 46 to 50 dollars, according to the provision of the deposit. Etoro will provide 5 million shares and will offer some shareholders, including Spark Capital and BTM Group, 5 million additional shares.
The money and accounts managed by the director of wealth Black Rock also expressed interest in buying shares of up to $ 100 million at the public subscription price.
Etoro goes forward with the public subscription in the United States after it was initially introduced to go to public places in March. The company stopped these plans after Trump announced on April 2 a major tariff for almost all trading partners in the United States. The trade war threw the global economy in a state of chaos, causing a 12 % decrease in the S&P 500 and Dow Jones Industrial Valtlement decreases by 11 % within a few days as investors fled the American market.
Etoro was not the only company to stop plans for the public in the United States as financial markets were organized from the tariff news. Fintech Klarna and the ticket platform have also been delayed their subscription subscriptions amid economic uncertainty, according to Bloomberg.
Since then, Trump has put a 90 -day stand on his definitions and trade negotiations with foreign countries, and has continued. With the background of the macroeconomic economy, Etoro resumed the initial public offering process. SEC still needs to review and approve the Etoro file before the company can put it in public, but the deal can be priced at the earliest of next week, according to Bloomberg.
Etoro, which was established in 2007, provides a customer platform for asset trade, including Crypto, similar to the US -based trading platform. Etoro reported its total revenue of $ 12.6 billion in 2024 compared to only $ 3.89 billion in 2023.
In 2023, the value of Etoro was $ 3.5 billion in a $ 250 million financing round led by Ion Group and Softbank Investment Advisers.
The company plans to include it on the Nasdaq Stock Exchange under the ETOR index.
This story was originally shown on Fortune.com
2025-05-06 17:39:00
