eToro has successfully priced its long-awaited initial public offering (IPO), raising $620 million through the sale of 11,923,018 Class A common shares at $52 per share. The offering price came in above the initially indicated range of $46 to $50, following strong investor demand that led to a significant oversubscription.

Initially planned at 10 million shares, the offering was upsized both in terms of volume and pricing. The final structure includes 5,961,509 new shares issued by eToro and an equal number sold by existing shareholders, including senior executives and directors. As a result, the company will receive approximately $310 million in fresh capital, while the remaining $310 million will go to selling shareholders.

eToro Raises $620 Million in Successful IPO, Shares Priced at $52

The IPO gives eToro an implied valuation of $4.26 billion, including the newly issued shares. The company’s Class A shares are going to begin trading later today on the Nasdaq Global Select Market under the ticker symbol NASDAQ:ETOR. The offering is going to close tomorrow, May 15, pending customary conditions.

Additionally, eToro has granted underwriters a 30-day option to purchase up to 1,788,452 more shares, potentially increasing the total raised further.

The IPO is being led by major financial institutions. Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank, and Citigroup are serving as lead book-running managers. Supporting them are Deutsche Bank Securities, BofA Securities, Cantor, Citizens Capital Markets, Keefe, Bruyette & Woods, Mizuho, and TD Securities. Co-managers include Canaccord Genuity, Moelis & Company, Needham & Company, Rothschild & Co, and Susquehanna Financial Group, LLLP.

eToro, founded in 2007, has grown into one of the world’s leading social trading platforms, offering a mix of stocks, ETFs, crypto assets, and more to millions of users worldwide.

With its shares set to begin trading on the Nasdaq under the ticker ETOR, eToro’s listing is expected to enhance its visibility and further fuel its growth. As the company continues to expand its services globally, this IPO offers a promising new chapter in its journey, supported by a solid group of leading financial institutions.

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