EToro Confirms US IPO, Seeks $500 Million at $4 Billion Valuation

eToro Group Ltd, an Israel-based online trading platform, has launched its long-awaited initial public offering (IPO) in the United States, aiming to raise up to $500 million at a potential valuation of $4 billion. The company and certain existing shareholders are offering 10 million Class A shares priced between $46 and $50 each, with the shares set to list on the Nasdaq under the ticker 'ETOR.' Major banks, including Goldman Sachs, Jefferies, UBS, and Citigroup, are leading the IPO. eToro has demonstrated significant financial growth, reporting a net income of $192 million for 2024, up sharply from $15 million in 2023, alongside notable increases in funded accounts, revenue, and adjusted EBITDA. Key selling shareholders include company founders and several investment groups. The offering marks eToro's move to solidify its presence in the U.S. market after previously pausing its listing plans.