Retail trading platform eToro files for U.S. IPO, targeting valuation of $5 billion

PANews January 16 news, according to the Financial Times, retail trading platform eToro has submitted confidential documents to U.S. regulators, taking an important step towards an initial public offering (IPO) in New York this year. The IPO’s valuation of the company It could be worth more than $5 billion.

People familiar with the matter revealed that the group has submitted confidential documents for the IPO to the U.S. Securities and Exchange Commission (SEC). It could go on sale in New York as early as the second quarter of this year, one of the people added. A person familiar with the listing plans said the company could be valued at more than $5 billion in the upcoming IPO. Banks including Goldman Sachs, Jefferies and UBS are working with the company on plans, people familiar with the matter said.

eToro CEO and founder Yoni Assia said last year that listing in the US would give the company access to a wider investor base than listing in the UK. Founded in 2007, the company allows customers to trade assets such as stocks and cryptocurrencies. The Financial Times reported last March that it managed $11.3 billion in customer assets across 3 million accounts.