An Israel-based investment platform eToro plans to conduct an initial public offering on Wall Street in 2021 with a valuation of $5 billion, Finance Magnates reports, citing local media. The company described these as ‘market rumours’.
\n
The publication states that eToro is in talks with investment bank Goldman Sachs, which could serve as the IPO’s lead organizer. The plans envisage listing on the New York Stock Exchange (NYSE) by the end of the second quarter of 2021. The company is also considering a merger with a SPAC to accelerate the process.
\n
The publication notes that the COVID-19 pandemic has driven a surge in activity on the investment platform.
\n
Following its most recent funding round in March 2018, eToro was valued at $800 million. In December of that year, the company’s valuation reached $2.5 billion after an unnamed institutional investor bought eToro shares worth at least $50 million.
\n
Earlier, filed an IPO application.
\n
Earlier, eToro CEO Yoni Assia made it onto Fortune’s 40 Under 40 list, in which the magazine named the most influential people under 40 across five sectors in 2020.
\n
Follow ForkLog on Twitter!