eToro has launched its initial public offering (IPO), boosting it to $620 million by pricing shares at $52 each, above the initially suggested range of $46 to $50. In total, over 11.92 million shares were sold, with trading set to begin on the Nasdaq under the ticker symbol ETOR on May 14. The offering consists of more than 5.9 million shares from eToro and an equal number from existing shareholders. This IPO positions eToro as a competitor to Robinhood Markets Inc., which has seen its shares increase over 67% year to date. The IPO follows eToro's plans announced in January and its formal filing with the SEC in March. Other fintech companies, such as Chime and crypto firms like Kraken and Circle, are also planning to go public. This move signals continued interest in public offerings within the crypto and fintech sectors, particularly following the success of Coinbase in 2021.

Source đź”—