The initial prospectus for the issue of shares of the cryptocurrency platform eToro, with which the company plans to enter the New York Stock Exchange (NYSE), is estimated at more than $5 billion. At the preparation stage, eToro has secured the support of investment banks Goldman Sachs, Jefferies and UBS. The exchange’s IPO should take place in the second quarter of 2025, sources told the Financial Times.
Initially, eToro planned to enter an IPO in March 2021, through a merger with FinTech Acquisition, estimating the value of the combined corporation at $10.4 billion. However, amid the crisis in the digital asset market, the deal did not take place, interlocutors told the Financial Times.
eToro said that if the IPO is successful, it could dramatically change investor sentiment and expand its customer base. This is important given that the company has recently faced a series of problems in the US, the Philippines and Australia.
Source: Bits
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