eToro Secretly Files for US IPO with Goldman Sachs Backing
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eToro has secretly filed for a US IPO targeting a valuation of $5 billion. Goldman Sachs, Jefferies and UBS are leading the IPO effort, with detailed plans for a potential listing in Q2 2025.
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eToro has filed a confidential filing with the SEC as the company prepares for an IPO in New York, the FT said Thursday. The company's IPO plans are backed by Goldman Sachs, Jefferies and UBS.
of It is the headquarters of Israel. Estimate 5 billion dollars and aim to list as early as possible The second quarter 2025, according to the report. The aim of the listing is to reach a wider investor base despite having the largest market in the UK.
This shows the latest test of eToro It's going. It was announced in 2021 after the completion of a $10.4 billion SPAC merger. The deal fell through as market conditions deteriorated. The company also explored the possibility of flotation. Earlier In the year 2024
The improved financial performance of the platform supports the IPO search. In the year Following a loss in 2022, eToro is expected to generate $630 million in revenue in 2023 and turn a profit in 2024.
eToro provides a platform for trading stocks, ETFs and digital assets which has Over 30 million users in 140 countries. In September 2024, eToro ceased trading for most crypto assets following a settlement with the SEC over federal securities law violations.
The company is expanding its services beyond the business. plans b ETF and mutual fund offerings, as well as pension plans. Itoro recently acquired Spaceship, an Australian pension management app, and partnered with a UK pension fund.
The filing comes amid renewed enthusiasm for crypto assets, Next Paul Atkins' Choice to direct the SEC. Atkins is a pro-creative, pro-creative businessman.
According to Arch Invest, Trump's policies could provide a significant tailwind for crypto. Industry, which can be created A more favorable environment for digital asset companies that seek public listings, such as Circle and Kraken.
Circle, the USD Coin stablecoin issuer, has already filed for an IPO, while Kraken is gearing up for its own IPO after raising $100 million in a pre-IPO funding round.
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