My dear, pull up a chaise and fetch the smelling salts—eToro, that mischievous Israeli darling of crypto and equity enthusiasts, has sashayed onto the Nasdaq stage with all the subtlety of a peacock in a library. Having set its IPO price at a rather impertinent $52 per share—brazenly skipping over its own “target range” of $46 to $50—one wonders if restraint is simply out of season.
With a flourish worthy of a West End curtain call, eToro has found almost $620 million under its proverbial sofa cushions, selling a smidgen over 11.92 million shares. A market cap of $4.3 billion? Why not, darling! Anyone for caviar?
In what could be described as either admirable self-belief or outright cheek, the offering boasts 5,961,509 Class A shares auctioned off by eToro itself, while an identically twinned bundle is to be sold by some exceedingly grateful existing shareholders—one imagines them clinking their Champagne glasses even now.
Trading commences today, 14 May 2025, under the ticker ETOR. One must doff one’s cap (or at least a trilby) to the line-up of distinguished backers: Goldman Sachs, Jefferies, UBS, and Citigroup. Frankly, it’s a veritable who’s-who of bankers who wear pinstripes to bed.
Let us not forget eToro’s previous theatrical attempt at going public via a SPAC at a decadent $10.4 billion valuation—alas, that grand performance was canned in 2022, proving once and for all that even the boldest script can get cut in rehearsal.
For those still not swooning, do take note: eToro isn’t merely for the crypto crowd. Stocks, commodities, forex, ETFs, indices—truly a smorgasbord for financial thrill-seekers. Remember, with offerings like these, fortunes may be made, lost, or—most importantly—discussed at great length over martinis. 🍸💸
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2025-05-14 10:51