eToro, a social trading and investment platform, has launched the roadshow for its initial public offering, offering 10 million Class A common shares. The company is issuing 5 million shares, while the remaining 5 million are being offered by existing shareholders. Additionally, eToro has granted underwriters a 30-day option to purchase up to 1.5 million extra shares to cover over-allotments, if necessary. The IPO is expected to price between $46.00 and $50.00 per share. eToro has applied to list its Class A shares on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The offering will proceed once the registration statement filed with the U.S. Securities and Exchange Commission becomes effective and all regulatory requirements are cleared.
Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup are leading the book-running process. Furthermore, Deutsche Bank Securities, BofA Securities, Cantor, Citizens Capital Markets, and TD Securities are participating as additional book-runners, while firms such as Moelis & Company, Rothschild & Co, and Needham & Company are serving as co-managers. The presence of such a broad syndicate points to strong institutional interest in the offering. eToro offers users the ability to invest in both traditional and digital assets through direct trading, personalized portfolios, or by replicating the strategies of other investors.
