The share price for the trading platform eToro has been set at $52, surpassing the initial IPO range of $46-50, reflecting increased demand. This was reported by Bloomberg.
The funds raised amounted to $620 million, with a market capitalization of $4.3 billion (FDV including options and restricted securities — $5 billion).
Half of the 11.9 million Class A common shares offered will be sold by the platform itself, while the other half will be sold by existing owners.
The debut of the securities under the ticker ETOR on the Nasdaq exchange is set for May 14.
eToro filed for an IPO in March of this year.
In 2021, eToro announced its intention to go public through a merger with FinTech Acquisition Corp. V. The preliminary valuation was approximately $10.4 billion.
The deal was postponed to the end of June 2022 due to a lack of approval from the SEC. In July, the platform suspended the process.
In April, Circle postponed its IPO amid a market correction following the announcement of “liberation tariffs” by U.S. President Donald Trump.