eToro aims for $4 billion valuation and $500 million in U.S. IPO

PANews reported on May 6 that according to The Block, the Israeli social investment platform eToro announced the details of its New York IPO, planning to issue 10 million Class A common shares at $46-50 per share, with a maximum fundraising scale of $500 million and a valuation target of $4 billion. Among them, 5 million shares will be sold by existing shareholders, and underwriters can subscribe for an additional 1.5 million shares in over-allotment. Seven institutions including Goldman Sachs, UBS, and Citigroup formed the underwriting group, and BlackRock has expressed its intention to subscribe for shares worth $100 million. The company's stock will be listed on the Nasdaq Global Select Market with the code "ETOR".

Earlier today, it was reported that Robinhood competitor eToro applied for an IPO in the United States .