Latest news with #BetsyCohen-backed
Yahoo
14-05-2025
- Business
- Yahoo
Stock surges 40% in Nasdaq debut after delayed IPO
The shares of the Israeli trading and investment firm eToro Group Ltd. (Nasdaq: ETOR) jumped 40% as its U.S. initial public offering (IPO) debuted on Nasdaq on May 14. eToro made the public listing debut with the IPO price of $52 a share. The stock opened at $69.69 but surged to $74.28 soon enough, reflecting an overall rise of 40%. Founded in 2007, eToro lets users trade stocks, cryptocurrencies and other leading assets. Its iconic social investing feature lets users mirror the trading strategies of top investors. The firm earned $931 million in commission with a net profit of $192 million in 2024. It served 3.5 million user accounts registered across 75 countries as of the end of 2024. eToro is backed by prominent investors such as the SoftBank Vision Fund 2, ION Group, and Spark Capital. Goldman Sachs, Jefferies, UBS and Citigroup are leading eToro's IPO. The firm that was forced to delay its IPO due to President Donald Trump's global tariff escalations in April is the first one to go public since then. It earlier tried going public through a merger with Betsy Cohen-backed special purpose acquisition company (SPAC) at a valuation of $10.4 billion in 2021, but pulled back later. Now, the trading platform is offering 11.91 million shares at its Nasdaq debut and aims to raise up to $620 million. After its impressive listing, the firm has secured a valuation of $5.64 billion. At the time of writing, the stock was trading at $67.79. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Israel's eToro seeks to raise up to $620 million in upsized US IPO
(Reuters) -eToro Group is planning to raise around $620 million in an upsized U.S. initial public offering (IPO) priced above market range, the company said on Tuesday. The stock and cryptocurrency trading platform has offered 11.92 million shares at $52 apiece, above its target range of $46 to $50. The stock is expected to begin trading on the Nasdaq Global Select Market under the symbol "ETOR" on Wednesday, May 14. Founded in 2007, the Israel-based company previously tried to go public through a merger with Betsy Cohen-backed special purpose acquisition company (SPAC) at a $10.4 billion valuation. However, the plan fell through in 2022. In September, eToro agreed to limit its U.S. crypto offerings to bitcoin, bitcoin cash and ether to settle charges with the Securities and Exchange Commission that it operated as an unregistered broker and unregistered clearing agency. Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters for the IPO. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Israel's eToro seeks to raise up to $620 million in upsized US IPO
(Reuters) -eToro Group is planning to raise around $620 million in an upsized U.S. initial public offering (IPO) priced above market range, the company said on Tuesday. The stock and cryptocurrency trading platform has offered 11.92 million shares at $52 apiece, above its target range of $46 to $50. The stock is expected to begin trading on the Nasdaq Global Select Market under the symbol "ETOR" on Wednesday, May 14. Founded in 2007, the Israel-based company previously tried to go public through a merger with Betsy Cohen-backed special purpose acquisition company (SPAC) at a $10.4 billion valuation. However, the plan fell through in 2022. In September, eToro agreed to limit its U.S. crypto offerings to bitcoin, bitcoin cash and ether to settle charges with the Securities and Exchange Commission that it operated as an unregistered broker and unregistered clearing agency. Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters for the IPO.
Yahoo
26-03-2025
- Business
- Yahoo
Israel's eToro files for US IPO as retail trading boom boosts commissions
By Manya Saini and Prakhar Srivastava (Reuters) -Israel's eToro reported a 46% surge in commissions for 2024 as the retail trading platform filed for a U.S. initial public offering late on Monday, joining a wave of firms seeking to test investor appetite for fresh listings. After years of sluggish activity, the IPO market is expected to see a long-awaited revival in 2025, with a pipeline of high-growth companies aiming to go public. Easing interest rates and renewed risk-taking have increased optimism, but analysts say the market's rebound hinges on the success of marquee listings. "Management and owners are clearly seeing a 'window of opportunity' to take their companies public now," said Josef Schuster, CEO of IPO-focused investment indexes, IPOX. Retail trading surged in 2024 as equity markets hit record highs, fueled by a resurgence in risk appetite among investors. Enthusiasm for stocks and cryptocurrencies was amplified by easing recession fears, strong corporate earnings and expectations of Federal Reserve rate cuts. Online brokerage firms reported a sharp uptick in trading volumes, with options and speculative bets gaining traction as individual investors returned to the market in force. Founded in 2007, eToro operates a trading platform that allows users to invest in stocks, cryptocurrencies and other assets while mirroring the strategies of top investors. Its total commission jumped to $931 million in the year ended December 31, compared with $639 million a year earlier. Profit was $192.4 million versus $15.3 million in the year-ago period. "The IPO will provide the company with the flexibility to potentially expand beyond crypto to capture the generational opportunities opening up from the rise of the retail investor globally," Schuster said. The trading platform had scrapped plans to go public in 2022, after eToro and Betsy Cohen-backed FinTech Acquisition mutually agreed to terminate their merger deal through a special purpose acquisition company. Strong debuts from buzzy tech and consumer-facing firms could reignite broader dealmaking, while a lukewarm reception may keep issuers on the sidelines. In March 2023, eToro raised $250 million in a funding round that valued the online brokerage at $3.5 billion. The company plans to list on the Nasdaq under the ticker symbol "ETOR". Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters of the offering. Sign in to access your portfolio
Reuters
25-03-2025
- Business
- Reuters
Israel's eToro files for US IPO as retail trading boom boosts commissions
March 25 (Reuters) - Israel's eToro reported a 46% surge in commissions for 2024 as the retail trading platform filed for a U.S. initial public offering late on Monday, joining a wave of firms seeking to test investor appetite for fresh listings. After years of sluggish activity, the IPO market is expected to see a long-awaited revival in 2025, with a pipeline of high-growth companies aiming to go public. Easing interest rates and renewed risk-taking have increased optimism, but analysts say the market's rebound hinges on the success of marquee listings. "Management and owners are clearly seeing a 'window of opportunity' to take their companies public now," said Josef Schuster, CEO of IPO-focused investment indexes, IPOX. Retail trading surged in 2024 as equity markets hit record highs, fueled by a resurgence in risk appetite among investors. Enthusiasm for stocks and cryptocurrencies was amplified by easing recession fears, strong corporate earnings and expectations of Federal Reserve rate cuts. Online brokerage firms reported a sharp uptick in trading volumes, with options and speculative bets gaining traction as individual investors returned to the market in force. Founded in 2007, eToro operates a trading platform that allows users to invest in stocks, cryptocurrencies and other assets while mirroring the strategies of top investors. Its total commission jumped to $931 million in the year ended December 31, compared with $639 million a year earlier. Profit was $192.4 million versus $15.3 million in the year-ago period. "The IPO will provide the company with the flexibility to potentially expand beyond crypto to capture the generational opportunities opening up from the rise of the retail investor globally," Schuster said. The trading platform had scrapped plans to go public in 2022, after eToro and Betsy Cohen-backed FinTech Acquisition mutually agreed to terminate their merger deal through a special purpose acquisition company. Strong debuts from buzzy tech and consumer-facing firms could reignite broader dealmaking, while a lukewarm reception may keep issuers on the sidelines. In March 2023, eToro raised $250 million in a funding round that valued the online brokerage at $3.5 billion. The company plans to list on the Nasdaq under the ticker symbol "ETOR". Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters of the offering.
