eToro completes IPO, raises $403 million

eToro Group Ltd., a company specializing in brokerage services, successfully completed its initial public offering (IPO) on Thursday, raising $403 million. The offering included 13,711,470 shares of Class A common stock at a public offering price of $52 per share. This total encompasses the sale of an additional 1,788,452 shares following the underwriters’ full exercise of their over-allotment option.

The gross proceeds from the IPO, before accounting for underwriting discounts, commissions, and estimated offering expenses, mark a significant financial milestone for the company. eToro, which operates under the organizational name 02 Finance and was previously known as Tradonomi Ltd., is incorporated in the British Virgin Islands with a fiscal year ending on December 31.

In connection with the IPO, eToro entered into an Underwriting Agreement with prominent financial institutions including Goldman Sachs & Co (NYSE:GS). LLC, Jefferies LLC, UBS Securities LLC, and Citigroup (NYSE:C) Global Markets Inc. Additionally, the company amended and restated its memorandum and articles of association, effective upon the IPO’s closing.

The company’s filings, including the Underwriting Agreement and the amended and restated memorandum and articles of association, are detailed in the final prospectus related to the IPO, which was filed with the U.S. Securities and Exchange Commission on May 14, 2025.

eToro also executed the Fifth Amended and Restated Investors’ Rights Agreement on May 5, 2025, with certain shareholders. These agreements, which are critical to the IPO process, are described in the prospectus and have been incorporated by reference into the company’s SEC filings.

This news is based on eToro’s recent filing with the SEC and reflects the company’s current financial and corporate status as it transitions into a publicly-traded entity.

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