On May 14, Israeli social investment platform eToro Group Ltd. and some shareholders raised nearly $620 million in an expanded U.S. initial public offering (IPO), pricing it above the previously advertised range. The company and investors sold 11.92 million shares at $52 per share, according to a statement on Tuesday. Previously, documents showed that BlackRock-managed funds and accounts were interested in buying up to $100 million worth of eToro shares at the IPO price. The pricing gives eToro a market value of about $4.30 billion based on the number of outstanding shares, and a fully diluted valuation of nearly $5 billion. eToro originally planned to advertise the issuance of 10 million shares at $46 to $50 per share, but the actual price was higher and the demand was several times that of the available shares.
Previously, it was reported that eToro's goal is to achieve a $4 billion valuation and a $500 million financing through a US IPO.
eToro and its backers raise $620 million by expanding IPO
2025-05-14 00:09:10
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