eToro Files for US IPO Valued Over $5 Billion
eToro plans to enter the US stock market through an initial public offering (IPO). The company has submitted a confidential filing to the Securities and Exchange Commission (SEC), potentially valuing the firm at over $5 billion.
Key Facts
- Founded in 2007, eToro manages $11.3 billion in customer assets across three million accounts as of March 2023.
- The company is shifting its focus from the UK to US for its IPO due to better investor opportunities and liquidity.
- In 2021, eToro attempted to go public via a $10.4 billion SPAC deal, which did not materialize due to market conditions.
- In 2023, eToro raised funds at a valuation of $3.5 billion with support from investors like SoftBank and Ion Group.
- Financial firms including Goldman Sachs, Jefferies, and UBS are assisting with the IPO process.
- The IPO could occur in the second quarter of this year.
The US IPO market is expected to be active in 2025, with 210 companies having filed for IPOs. Sectors such as industrials, technology, and consumer products are anticipated to lead this trend.