Etoro on the stock market at $ 52 per share: a fanfare departure on the Nasdaq

Etoro recently revealed that its IPO (IPO) on the NASDAQ is starting with a higher price per share than expected, at $ 52.

Etoro lifts $ 310 million, valuing the company to $ 4.2 billion

The trading platform for shares and cryptocurrencies revealed in a press release that the IPO implies 11.9 million ordinary class A shares. Half of these, or 5.96 million shares, are sold by Etoro, while the remaining actions come from existing shareholders.

The shares will begin to be negotiated on the Nasdaq Global Select Market today, on May 14, with the “ETOR” stock market symbol, and May 15 was set as a closing date of the offer, except problem.

There is also the possibility for the subscriber to buy even more actions – just at 1.79 million class A additional – in the next 30 days. The announcement of the company confirmed:

Actions should start to be negotiated on the Nasdaq Global Select Market on May 14, 2025, under the “etor” symbol. The offer should end on May 15, 2025, subject to the usual closing conditions.

When Etoro first set his expectations for the IPO, he was targeting a price range of $ 46 to $ 50 per share. But now, with the price of $ 52, they have exceeded these initial projections. CNBC reported that Andoro has raised nearly $ 310 million thanks to the sale of around 6 million shares, promoting the company to around $ 4.2 billion.

The high performance of 2024 strengthens confidence in the IPO, in competition with Robinhood

In January, Etoro filed documents with the United States government to start preparing an IPO in New York. Then, in March, they announced their plans. By becoming public, Etoro will compete with companies like Robinhood, a trading application which began to sell shares in 2021. The course of the Robinhood action increased by more than 62 % this year, according to Google Finance.

According to the announcement, the IPO of Etoro is led by large banks such as Goldman Sachs, Jefferies, UBS and Citigroup. Other banks participating in the process include Deutsche Bank, Bank of America, Cantor, Mizuho and TD Securities. Other firms, such as Rothschild and Moelis, also assist as co-management.

This IPO follows the launch by Etoro of a functionality in the United Kingdom and Europe which allows users to convert cryptos like Bitcoin and Ethereum to fiduciary currency. Users can transfer cryptos from external wallets, convert them to cash, then reinvest or remove directly via the platform.

Etoro reported solid financial performance, with a profit from $ 15 million in 2023 to 192 million dollars in 2024. The company also noted that the adjusted Ebitda increased from $ 117 million to $ 304 million, an increase of 159 %.

Etoro also saw a 41 % increase in its net contribution, reaching $ 787 million in 2024 against 557 million the previous year. In addition, its total committee increased 46 %, from $ 639 million in 2023 to 931 million in 2024.

Financial companies and crypto seek to be listed at Nasdaq

Other companies in the financial sector are also planning a rating in Nasdaq. For example, the Digital Bank Chime filed a request for the Introduction on the Stock Exchange under the “Chy” symbol. Although the exact price per share and the number of shares remain to be determined, some experts predict that the Chime IPO could raise up to $ 1 billion.

In addition, many Crypto companies also rethin their IPO plans. Kraken would plan to break up on the stock market later this year, while Bitgo launched in February a world -class negotiation office (OTC) for digital assets, suggesting an IPO to come.

Circle, the company behind the Stablecoin USDC, filed its documents with the SEC on April 1 but suspended its IPO plans shortly after. This decision was made after President Donald Trump's pricing announcement on April 2, which rocked the world markets and pushed several companies to delay their public offers.