eToro Group has confidentially filed a draft Registration Statement on Form F-1 with the US Securities and Exchange Commission (SEC) in relation to its planned initial public offering (IPO) of ordinary shares.

As of now, the number of shares to be offered and the price range for the offering have not been specified.

eToro IPO Pending SEC Review Process

The IPO is expected to occur once the SEC completes its review of the Registration Statement, which is subject to market conditions and other factors. However, eToro has not set a definitive timeline for when the offering will take place.

Source: LinkedIn
Source: LinkedIn

The company issued a press release in compliance with Rule 135 under the Securities Act of 1933. It clarified that the release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any such activities will be conducted in line with the registration requirements stipulated by the Securities Act.

eToro Revisits IPO After Past Setbacks

Yoni Assia, CEO, eToro

This isn’t eToro’s first attempt to go public. In 2021, the platform planned a $10.4 billion SPAC merger but abandoned the effort due to challenging market conditions. In 2023, eToro raised $250 million at a $3.5 billion valuation, signalling a rebound fuelled by rising equity and cryptocurrency markets.

eToro Gains Approval for New York

Earlier, eToro secured a license to offer its services in New York, supporting its expansion plans in the region, as reported by Finance Magnates. In an interview on the NYSE LinkedIn page, eToro's Founder and CEO, Yoni Assia, discussed the significance of this approval.

With the launch in New York, users will be able to trade cryptocurrencies, commodities, and indices. Assia also mentioned eToro's social trading and copy trading features, which allow users to view others’ trading activities. Looking forward, Assia highlighted the potential of AI technology in investment analysis for eToro's 37 million users across 75 countries.

Source: Finance Magnates