On May 14, it was reported that Israeli social investment platform eToro Group Ltd. and some shareholders raised nearly US$620 million in an expanded U.S. initial public offering (IPO), pricing higher than the previously advertised range. Tuesday's statement showed that the company and investors sold 11.92 million shares at $52 per share. Previous documents showed that funds and accounts managed by BlackRock intended to purchase eToro shares worth up to $100 million at the IPO price. Based on the number of shares outstanding, this pricing gives eToro a market value of approximately US$4.3 billion and a fully diluted valuation of nearly US$5 billion. eToro originally planned to promote the issuance of 10 million shares at a price of US$46 to US$50 per share, but the actual price was higher and the demand was several times that could be issued. Previously, eToro's goal is to achieve a valuation of US$4 billion and a financing of US$500 million through a US IPO.