eToro Raises $620 Million in Upsized Nasdaq IPO

Trading platform eToro is set to go public on the Nasdaq, raising nearly $620 million through an upsized IPO. The company priced shares above its initial range before debuting on May 14th. As per the press release, eToro will sell 11.92 million shares at $52 each, exceeding the original range of $46 to $50 and surpassing the planned 10 million shares. This offering values eToro at approximately $4.3 billion, or nearly $5 billion on a fully diluted basis. The company’s success comes from its strong performance, with net income surging by over 120% in 2024, and it now seeks to leverage the public market access for growth.