Internet -based Israel, Etoro, announced the successful pricing of the original public offer (IPO), which saw the sale of 11,923,018 shares of Etoro Class A at a public bid price of $ 52 per share – for a total size of $ 620 million.
Both the size of the offer (initially 10 million shares) and the price (initially indicated from $ 46-50) were upgraded by the company and its contractors, as the ETORO offer became excessively excessive, as we mentioned earlier this week.
The offer consists of 5,961,509 new shares sold by ETORO and 5,961,509 shares sold by certain existing shareholders – which means that about half of the revenue resulting in the IPO (about $ 310 million) will go to the company as a new capital. Etoro and managers.
The offer gave ETORO an assessment of $ 4.26 billion, including the value of recently issued shares.
Etoro’s shares are expected to start negotiating the Nasdaq Global Select later today (May 14, 2025), with the Ticker Nasdaq Symbol: Etor. The offer is expected to close on May 15, 2025, without prejudice to the usual closing conditions.
In addition, ETORO has granted the contractors a 30 -day option for purchase up to an additional 1,788,452 common shares A from Etoro.
Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank and Citigroup act as book managers for the offer. Deutsche Bank Securities, Bofa Securities, Cantor, Citizens Capital Markets, Keefe, Bruyette & Woods, Stifel Company, Mizuho and TD Securities act as additional book managers. Canaccord Genuity, Moelis & Company, Needham & Company, Rothschild & Co and Susquehanna Financial Group, LLLP act as co-operators.