The Etoro ipo Roadshow is, well, knocking the way.
Following our report earlier today, that Israel based ETORO’s online broker was likely to resume the IPO process after postponing the IPO Roadshow in early April, ETORO has submitted information on the F-1 registration statement (ie the preliminary predsectus) Roadshow.
ETORO IPO offer details
According to the deposit, ETORO will offer 10 million shares in its IPO, in a target price range between $ 46 and $ 50 – which means a Total offer size between $ 460-500 million.
Half of the shares offered (ie 5 million shares) are recently issued the company’s shares and half are from the sale of shareholders, such as Spark Capital, BRM Group (Barkat Family Investment Firm), Andalusian, CM Equities, Managing Director Yoni Assia. and director Eddy Shalev. Thus, if the bid receives as ETORO was scheduled, it will receive about $ 230-250 million in new funds in the deal or about half of the total bid.
Etoro IPO manages a group of investment banks led by Goldman Sachs, Jefferies (which is interesting possessing Etoro FXCM), UBS and Citi.
The valuation state
The deposition stated that the post-transaction, Etoro will have 80,873 million outstanding shares, that is, a post-Dela value of between $ 3.7-4.0 billion. Prior to deposit valuation is set at $ 3.5-3.8 billion.
Note that Etoro’s capital structure is divided between Category A and Class B shares, with 44.390 million shares A (including 5 million new shares A -sold in IPO) and 36.483 million shares B in a total of 80 million B.
Etoro Financials
Also interesting in the updated IPO newsletter is what was not there – the results of ETORO Q1 2025. Etoro stated in the updated deposition that its financial results for the three months ended on March 31, 2025 have not yet been finalized. However, ETORO provided some estimated preliminary non -controlled financial results and other data for Q1 2025, noting that the actual results may be different from the estimated preliminary results presented.
- Funded accounts -ETORO expects funded accounts since March 31, 2025 to be about 3.58 million, from 3.48 million by the end of 2024.
- Assets under management -ETORO expects that the assets under the management from March 31, 2025 will be $ 14.8 billion, reduced by $ 11% from $ 16.6 billion by the end of the year 2024.
- Ebitda -Toro provided a series of Q1 of $ 76-80 million for Q1. EBITDA was $ 304 million in 2024, or on average $ 76 million quarterly.
- Net income -Toro provided a series of q1 of $ 56-60 million for Q1. This would be a slight drop from $ 60.4 million to $ 424.