eToro Group Ltd said today (Monday) it is targeting a valuation
of up to $4 billion in its initial public offering in the United States, as the
retail trading platform finally moves ahead with its long-awaited New York
flotation plans. eToro Group Ltd has started the roadshow for its planned
initial public offering. The company aims to list 10 million Class A common
shares. Half of these shares will be offered by eToro. The other half will be
sold by existing shareholders.
eToro Offers 10 Million Shares IPO
The IPO price is expected to be between $46 and $50 per
share. eToro has applied to list its shares on the Nasdaq Global Select Market.
The proposed ticker symbol is “ETOR.”The company plans to give underwriters a 30-day option to
purchase up to 1.5 million additional shares. This would be to cover any
over-allotments.
Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup
are leading the offering. Other banks involved include Deutsche Bank, Bank of
America, and TD Securities. A number of co-managers are also listed.
The offering will only be made through a prospectus. A
registration statement has been filed with the U.S. Securities and Exchange
Commission. However, it has not yet been declared effective.
No shares may be sold before the registration becomes
effective. The announcement is not an offer to sell or a request to buy the
shares in any region where it would be unlawful. The IPO depends on market
conditions and regulatory approval.
eToro Group Ltd said today (Monday) it is targeting a valuation
of up to $4 billion in its initial public offering in the United States, as the
retail trading platform finally moves ahead with its long-awaited New York
flotation plans. eToro Group Ltd has started the roadshow for its planned
initial public offering. The company aims to list 10 million Class A common
shares. Half of these shares will be offered by eToro. The other half will be
sold by existing shareholders.
eToro Offers 10 Million Shares IPO
The IPO price is expected to be between $46 and $50 per
share. eToro has applied to list its shares on the Nasdaq Global Select Market.
The proposed ticker symbol is “ETOR.”The company plans to give underwriters a 30-day option to
purchase up to 1.5 million additional shares. This would be to cover any
over-allotments.
Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup
are leading the offering. Other banks involved include Deutsche Bank, Bank of
America, and TD Securities. A number of co-managers are also listed.
The offering will only be made through a prospectus. A
registration statement has been filed with the U.S. Securities and Exchange
Commission. However, it has not yet been declared effective.
No shares may be sold before the registration becomes
effective. The announcement is not an offer to sell or a request to buy the
shares in any region where it would be unlawful. The IPO depends on market
conditions and regulatory approval.
This post is originally published on FINANCEMAGNATES.
