Latest news with #IPOX
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.
Yahoo
12-02-2025
- Business
- Yahoo
Cybersecurity firm SailPoint sets sights on $12.6 billion valuation in US IPO
By Manya Saini (Reuters) -Cybersecurity firm SailPoint said on Tuesday it is now seeking a valuation of up to $12.57 billion in its U.S. initial public offering, signaling strong demand for the year's first major test of investor appetite for tech stocks. U.S. IPOs are poised for a strong comeback after nearly three years of sluggish activity, with established companies that have proven revenue and high-profile backers expected to lead the way. SailPoint and its parent Thoma Bravo are together selling 50 million shares, priced between $21 and $23 each to raise as much as $1.15 billion. The Austin, Texas-based company's previous proposed range was between $19 and $21 to raise up to $1.05 billion for a target valuation of around $11.5 billion. "Raising the price range is a good indicator that market participants are willing to pay up for high quality deals," said Josef Schuster, CEO of IPO-focused investment indexes IPOX. "We believe this is a good sign for forthcoming IPOs from growth sectors, including technology." Founded in 2005, SailPoint specializes in identity and access management software, helping businesses reduce the risk of sensitive data leaks. Rising cyberattacks, driven in part by bad actors leveraging artificial intelligence, have increased demand for identity security solutions. TECH IPO PIPELINE The technology IPO pipeline for 2025 features several high-profile startups, with fintech giant Chime, AI software startup Genesys and chipmaker Cerebras Systems expected to headline the market rebound. High-growth technology companies suffered the most during the market downturn over the past three years, as investors shunned the sector over lofty valuations and cash burn. "Technology IPOs need a win, and a strong reception to SailPoint would go a long way to opening the window for the dozens of pre-IPO tech unicorns waiting on the sidelines," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. SailPoint's listing would mark a major win for its private equity owner Thoma Bravo, and its success could encourage more tech startups to move forward with IPOs, analysts have said. The Chicago-based buyout firm first acquired SailPoint in 2014 and took it public three years later. The company traded on the New York Stock Exchange from 2017 until 2022, when Thoma Bravo reacquired it in a $6.9 billion deal. Thoma Bravo will own a roughly 88% stake in SailPoint after the offering closes. Morgan Stanley and Goldman Sachs are the lead underwriters for the offering. SailPoint will list on the Nasdaq under the symbol "SAIL".
