Trading platform eToro set to open higher in Nasdaq debut after $620 mln IPO
ReutersMay 14, 2025 2:42 PM
Retail trading platform eToro Group ETOR.O set to open 17.3% above offer price in Nasdaq debut
Stock recently indicated to open at $61 vs $52 IPO price
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
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