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The Israeli online trading platform, which postponed its flotation last month due to market volatility, is set to move ahead with the offering in the coming days, "Bloomberg" reports.
Israel online trading platform eToro could be set for a Wall Street IPO in the coming days. The company, which tried to go public through a SPAC merger in 2021 but was forced to cancel the deal, recently filed a prospectus for an IPO but deferred the flotation last month due to market volatility. Now "Bloomberg" reports that eToro is expected to launch its IPO very soon, perhaps even this week.
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According to the report, no final decision has yet been taken, but if the offering goes ahead, it will be the first among companies that postponed their flotations due to President Trump's imposition of tariffs on "Liberation Day" in early April.
eToro, which was founded in 2007 by CEO Yoni Assia, Ronen Assia and David Ring, has developed a trading platform for investors in a range of assets, from stocks and indices to commodities and cryptocurrencies. The prospectus that the company recently filed did not specify the value it is targeting for the offering, but "Globes" has reported that it is seeking to raise $300-400 million based on a company valuation of nearly $5 billion, after money. The research firm Renaissance Capital, which monitors the IPO market, estimates the scope of the fundraising at about $750 million.
The most recent financing round completed by eToro was in 2023 at a company valuation of $3.5 billion. However, in 2021, which was a record year for the tech sector and SPAC mergers, eToro was aiming for a $10.4 billion valuation. After delays in completing the merger and amid changes in market conditions, the valuation was cut to $8.8 billion, after money, but in the end the merger was not completed and the valuation continued falling.
Published by Globes, Israel business news - en.globes.co.il - on May 4, 2025.
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