eToro’s goal is to achieve a $4 billion valuation and $500 million financing through a U.S. IPO

PANews reported on May 6 that according to The Block, Israeli social investment platform eToro announced the details of its New York IPO, planning to issue 10 million Class A common shares at US$460-50 per share, with a maximum fundraising scale of US$500 million and a valuation target of US$4 billion. Of these, 5 million shares are sold by existing shareholders, and the underwriter can subscribe to an additional 1.5 million shares for over-allotment. Seven institutions including Goldman Sachs, UBS, and Citi formed an underwriting group, and BlackRock has stated that it plans to subscribe to shares worth US$100 million. The company's shares will be listed on the Nasdaq Global Select Market under the code "ETOR".

Earlier today, Robinhood competitor eToro applied for a US IPO .