Retail trading platform eToro set for Nasdaq debut after upsized $620 million IPO

Retail trading platform eToro Group ETOR.O set to begin trading on Nasdaq on Wednesday under ticker symbol "ETOR"

Israel-based ETOR and some existing stockholders sold ~11.9 million shares at $52 apiece to raise $620 million in an upsized IPO

They had earlier offered 10 million shares priced between $46 and $50 each

ETOR expects profit to be between $56 million and $60 million for the three months ended March 31, compared with a $64 million profit a year earlier

Goldman Sachs, Jefferies, UBS and Citigroup led a 16-firm underwriting syndicate for the offering

Asset management giant BlackRock BLK.N had indicated on buying up to $100 million of shares in the offering