eToro aims for $4B valuation, $500M raise for US IPO

The Israel-based eToro Group says it’s looking for a valuation of up to $4 billion with its initial public offering in the US, as the stock and crypto trading platform forges ahead with listing on the Nasdaq. The company and existing stockholders are aiming to raise $500 million through offering a total of 10 million shares priced between $46 to $50 apiece, eToro said on May 5. A filing with the US Securities and Exchange Commission shows eToro is offering 5 million shares, with a further 5 million being put up by the likes of the company’s co-founder and CEO, Yoni Assia; his brother and executive director, Ronen Assia; along with venture firms Spark Capital, BRM Group and Andalusian Private Capital, among others. The company offers stock and crypto trading targeting retail and plans to list on the tech-heavy Nasdaq Global Select Market under the ticker “ETOR source: https://cointelegraph.com/news/etoro-us-ipo-4-billion-valuation-500-million-raise?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound