Israeli trading platform eToro has put its initial public offering (IPO) plans on hold due to market uncertainty linked to the trade war started by US President Donald Trump, US news website Axios reports.
The Yoni Assia-led company had been scheduled to begin investor meetings this week ahead of a planned flotation. However, the move was frozen as market volatility intensified following trade tensions sparked by Trump.
The IPO postponement comes despite strong 2024 financial results. eToro reported a revenue surge to $12.6 billion, nearly triple its 2023 figure, while net profit jumped 1,160% to $192.4 million.
The company had aimed to raise $300 million to $400 million at a pre-money valuation of $4.5 billion, significantly below the market capitalization of its U.S. rival Robinhood.
eToro joins a growing list of companies holding off IPOs amid turbulent market conditions. Swedish fintech Klarna, U.S. event ticketing platform SubHub, and online physiotherapy startup Hinge Health have all delayed their public listings, according to CNBC.
eToro is a trading and investing platform that empowers users to invest, share, and learn. It was founded in 2007 with the vision of “a world where everyone can trade and invest in a simple and transparent way.”
The company 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.”
Last March, the company announced that it had publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed IPO of its Class A common shares.
