eToro targets a $4 billion valuation and raises $500 million through an IPO "
Internet reports that cryptocurrency and stock trading platform eToro has released details of its upcoming IPO in New York, with the goal of raising up to $500 million and achieving a valuation of $4 billion. The offering includes 10 million Class A common shares at an issue price of between $46 and $50 per share. According to an announcement released Monday, eToro will provide half of the offering, with the remaining 5 million shares held by existing shareholders. The platform also allows underwriters to purchase an additional 1.5 million shares over 30 days to make up for any over-allotment. Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup led the underwriting, with Deutsche Bank Securities, Cantor and Bank of America Securities also providing additional support.
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