Important points
- eToro has secretly filed for an IPO in the US with a target valuation of $5 billion.
- Goldman Sachs, Jefferies and UBS are leading the IPO effort, with plans for a potential listing in Q2 2025.
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The FT reported Thursday that eToro filed confidential documents with the SEC as it prepares to go public in New York. The company's IPO plans are backed by Goldman Sachs, Jefferies and UBS.
of Companies headquartered in Israel are Aiming for a valuation of $5 billion and possible listing as early as possible 2nd quarter 2025 according to the report. Despite having its largest market in the UK, the aim of the listing is to reach a wider investor base.
This is eToro's latest endeavor. go It was made public after a failed $10.4 billion SPAC merger in 2021. The transaction collapsed due to deteriorating market conditions. The company also considered the possibility of flotation. Previously In 2024.
The platform's improved financial performance supports the pursuit of an IPO. Following a loss in 2022, eToro forecasts revenue of $630 million in 2023 and higher profits in 2024.
This is reported by eToro, a trading platform for stocks, ETFs, and digital assets. have We have over 30 million users in 140 countries. In September 2024, eToro ceased trading in most crypto assets following a settlement with the SEC over violations of federal securities laws.
The company has expanded its services beyond trading to include: plan of We also have ETFs, mutual funds, pension plans, and more. eToro recently acquired Spaceship, an Australian pension management app, and partnered with a UK pension fund.
The filing comes amid renewed enthusiasm for crypto assets. Paul Atkins' Choice He will lead the SEC. Atkins is a cryptocurrency advocate and businessman who drives innovation.
Ark Invest suggests President Trump’s policies could be a big tailwind for cryptocurrencies industry, potentially create It's a more favorable environment for digital asset companies looking to go public, like Circle and Kraken.
Circle, the issuer of stablecoin USD Coin, has already secretly filed for an IPO, while Kraken is preparing for its own IPO after raising $100 million in a pre-IPO funding round.
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