The news comes just a month after eToro submitted filings to the US Securities and Exchange Commission as it moved towards an IPO in New York. Now, the company has confirmed that it confidentially filed an F-1 registration statement with the Securities and Exchange Commission relating to the proposed IPO of its ordinary shares. However, at the time of writing, eToro only released a brief statement in which it did not provide any more details, including a planned valuation, who the underwriters of the IPO are set to be, or the timing of an offering.
Furthermore, it was reported that eToro engaged with Goldman Sachs as lead manager of the offering, while Jefferies and UBS would serve as co-managers. When it comes to the valuation, Financial Times mentioned a potential USD 5 billion valuation for eToro, however, this information is still speculation. Additionally, as detailed by the company, the IPO is projected to take place after the US Securities and Exchange Commission finalises its review process, subject to market and other conditions.
eToro underlined that the press release was being made under Rule 135 under the Securities Act of 1993, and does not constitute an offer to sell, or the solicitation of an offer to buy any securities. Also, the company mentioned that any offers, solicitations, or offers to buy, or any sales of securities are set to be made following the registration requirements set out by the Securities Act.
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