eToro Group Ltd announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its Class A common shares.
The number of shares to be offered and the price range for the proposed offering have “not yet been determined.”
eToro has applied to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “ETOR.”
As clarified in the update from eToro, the offering is subject to market conditions, and there can “be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering.”
Goldman Sachs, Jefferies, UBS and Citigroup are “acting as lead managing bookrunners.”
Deutsche Bank Securities, BofA Securities, Cantor, Citizens JMP, Keefe, Bruyette & Woods, Mizuho, and TD Securities are acting “as additional book-running managers.”
Canaccord Genuity, Moelis & Company, Needham & Company, Rothschild & Co and Susquehanna Financial Group “are acting as co-managers.”
The proposed offering will be made only by “means of a prospectus.”
A registration statement on Form F-1 relating to these securities “has been filed with the SEC but has not yet become effective.”
These securities may “not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”
The offering is subject to market and “other conditions and the completion of the SEC’s review process.”
As covered, eToro is a trading and investing platform that empowers users to invest, share and learn.
eToro was founded in 2007 with the vision of “a world where everyone can trade and invest in a simple and transparent way.”
eToro believes there is power in shared knowledge and “that we can become more successful by investing together.”
So eToro has created a collaborative investment community “designed to provide users with the tools they need to grow their knowledge and wealth.”
On eToro, users can hold a range of traditional and innovative assets and choose “how they invest: trade directly, invest in a portfolio, or copy other investors.”