[ad_1]
eToro Group has confidentially filed a draft Registration Statement on Form F-1 with the US Securities and Exchange Commission (SEC) in relation to its planned initial public offering (IPO) of ordinary shares.
As of now, the number of shares to be offered and the price range for the offering have not been specified.
The IPO is expected to occur once the SEC completes its review of the Registration Statement, which is subject to market conditions and other factors. However, eToro has not set a definitive timeline for when the offering will take place.
The company issued a press release in compliance with Rule 135 under the Securities Act of 1933. It clarified that the release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any such activities will be conducted in line with the registration requirements stipulated by the Securities Act.
‘We definitely are eyeing the public markets’: eToro CEO considers IPO after scrapped SPAC deal https://t.co/c5UFrZQpLQ
— CNBC (@CNBC) February 26, 2024
eToro Revisits IPO After Past Setbacks
This isn’t eToro’s first attempt to go public. In 2021, the platform planned a $10.4 billion SPAC merger but abandoned the effort due to challenging market conditions. In 2023, eToro raised $250 million at a $3.5 billion valuation, signalling a rebound fuelled by rising equity and cryptocurrency markets.
[ad_2]
