eToro has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), it was revealed Monday.
eToro Files for IPO in the US
The move marks a significant step towards its long-anticipated public listing.
The social trading platform plans to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “ETOR”.
However, the company has yet to disclose key details such as the number of shares to be offered and the expected price range. The IPO’s timing will depend on market conditions and regulatory approvals.
The offering is being led by Goldman Sachs, Jefferies, UBS, and Citigroup, with additional bookrunners including Deutsche Bank Securities, BofA Securities, and Mizuho, among others.
eToro, which was founded in 2007, allows users to trade stocks, cryptocurrencies, and other assets while also offering social trading features that let investors follow and copy the trades of experienced traders.
The company has seen substantial growth in recent years, driven by increasing retail investor participation and interest in digital assets.
The IPO filing follows eToro’s previous attempt to go public via a $10.4 billion SPAC merger in 2021, which was later abandoned due to market volatility.
With its latest attempt at a public listing, eToro aims to strengthen its position in the competitive fintech and online trading industry as it prepares to raise capital for future expansion.
