eToro Group Ltd announced that it has launched the roadshow for its initial public offering (IPO) of 10,000,000 Class A common shares, 5,000,000 shares of which are being “offered by eToro and 5,000,000 shares of which are being offered by certain existing stockholders.”
eToro expects to grant the underwriters “a 30-day option to purchase an additional 1,500,000 common shares to cover over-allotments, if any.”
The IPO is expected to price between “$46.00 and $50.00 per share.”
eToro has applied to list its Class A common shares “on the Nasdaq Global Select Market under the ticker symbol ‘ETOR.’”
Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank and Citigroup are acting “as lead book-running managers for the proposed offering.”
Deutsche Bank Securities, BofA Securities, Cantor, Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, Mizuho, and TD Securities are acting as “additional book-running managers. Canaccord Genuity, Moelis & Company, Needham & Company, Rothschild & Co and Susquehanna Financial Group LLLP are acting as co-managers.”
A registration statement on Form F-1 relating to the proposed offering of these securities has been filed with the SEC but has “not yet become effective.”
Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
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 provided 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.”