eToro Launches Roadshow for Initial Public Offering, Seeks to List on Nasdaq Under “ETOR”
eToro Group Ltd, a global leader in social investing and trading, has officially kicked off its initial public offering (IPO) process with the launch of its roadshow, marking a major milestone for the fintech company. The offering includes 10 million Class A common shares, with 5 million shares being offered directly by eToro and the remaining 5 million shares offered by existing shareholders.
As part of the IPO process, eToro has also granted underwriters a 30-day option to purchase up to 1.5 million additional shares to cover over-allotments, if necessary. The company anticipates a share price ranging between $46.00 and $50.00, which could potentially value the IPO at up to $575 million, depending on final pricing and the exercise of the over-allotment option.
eToro’s shares are expected to be listed on the Nasdaq Global Select Market under the proposed ticker symbol “ETOR”, subject to customary approvals and completion of the U.S. Securities and Exchange Commission’s (SEC) registration process.
A Strategic Move Amid Growing Market Maturity
Founded in 2007, eToro has grown to become a widely used platform in the global online investing space, known for its unique approach to social trading, which allows users to follow and copy the trades of other investors. With millions of users in over 100 countries, the company combines brokerage services with community engagement, making investing more accessible and collaborative.
The decision to go public represents a significant step in eToro’s evolution, as it seeks to raise capital to further expand its reach, enhance its technology infrastructure, and strengthen its position in key global markets. An IPO not only offers access to the public capital markets but also increases transparency and credibility with stakeholders, regulators, and potential institutional partners.
The move also comes after eToro previously attempted to go public via a special purpose acquisition company (SPAC) deal in 2021. That deal, which valued the company at approximately $10 billion, was eventually terminated in 2022 due to regulatory delays and unfavorable market conditions. This traditional IPO approach signals a renewed commitment to long-term growth and a more stable market entry strategy.
Details of the Offering
Under the current terms of the offering:
- 5 million Class A common shares will be sold by eToro itself. Proceeds from this portion of the IPO will go directly to the company and are expected to be used for general corporate purposes, product development, international expansion, and potentially strategic acquisitions.
- The remaining 5 million shares will be sold by existing stockholders, providing liquidity for early investors and insiders.
- Underwriter over-allotment option: A standard component in many IPOs, this gives the underwriters a 30-day window to purchase up to 1.5 million additional shares at the offering price, which could further increase the total amount raised and support post-IPO price stabilization.
- Estimated IPO price: The company anticipates pricing shares between $46 and $50, though the final pricing will depend on investor demand and market conditions leading up to the pricing date.
- Nasdaq listing: The Class A shares will trade under the ticker symbol ETOR, joining a roster of leading global fintech and brokerage firms on the Nasdaq exchange.
Underwriting Syndicate and Key Players
A broad and reputable syndicate of financial institutions has been tapped to underwrite and manage the offering:
Lead Book-Running Managers:
- Goldman Sachs & Co. LLC
- Jefferies
- UBS Investment Bank
- Citigroup
Additional Book-Running Managers:
- Deutsche Bank Securities
- BofA Securities
- Cantor
- Citizens Capital Markets
- Keefe, Bruyette & Woods (A Stifel Company)
- Mizuho
- TD Securities
Co-Managers:
- Canaccord Genuity
- Moelis & Company
- Needham & Company
- Rothschild & Co
- Susquehanna Financial Group LLLP
The involvement of such a comprehensive and experienced group of underwriters reflects confidence in the IPO and signals robust support from Wall Street. Investors seeking copies of the preliminary prospectus can access it via the SEC’s EDGAR database or directly through the contacts listed for Goldman Sachs, Jefferies, UBS, and Citigroup.
Legal and Regulatory Status
It is important to note that the offering remains subject to regulatory approval. A registration statement on Form F-1 has been filed with the SEC, but it has not yet become effective. As such, no securities may be sold, nor may offers to buy be accepted, until the registration becomes effective.
The IPO is being conducted in accordance with the Securities Act of 1933, as amended. The offering is also contingent upon market conditions and the completion of the SEC’s review process.
The press release itself does not constitute an offer to sell or a solicitation of an offer to buy the securities. Nor may such activities occur in any jurisdiction where they would be unlawful before registration or qualification under the local securities laws.
The Bigger Picture: eToro’s Role in a Changing Financial Landscape
As the financial services industry undergoes a dramatic transformation driven by technology, transparency, and investor empowerment, eToro has emerged as a key player in democratizing access to financial markets. Its business model—blending commission-free investing with a community-based, social trading platform—has resonated strongly with younger, digitally native investors.
The company’s IPO comes at a time when retail participation in financial markets remains strong and interest in alternative investing approaches is surging. By going public, eToro positions itself to gain broader visibility, attract new customers, and potentially scale its platform across more jurisdictions.
With its IPO, eToro joins the ranks of other fintech companies that have entered public markets, further legitimizing its business model and opening the door to increased scrutiny, capital access, and public accountability.
About eToro
eToro is a trading and investing platform that empowers users to invest, share and learn. eToro was founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. eToro believes there is power in shared knowledge and that we can become more successful by investing together. So eToro has created a collaborative investment community designed to provide users with the tools they need to grow their knowledge and wealth. On eToro, users can hold a range of traditional and innovative assets and choose how they invest: trade directly, invest in a portfolio, or copy other investors.
