Trading platform eToro jumps in cracking Nasdaq debut after $620 mln IPO

eToro

14/05/2025 17:23

Updates

        ** Retail trading platform eToro Group's ETOR.O shares open 34% above offer price in Nasdaq debut

        ** Stock opens at $69.69 vs $52 IPO price

        ** Israel-based ETOR and some existing stockholders sold ~11.9 million shares at $52 apiece to raise $620 million in an upsized IPO

        ** They had earlier offered 10 million shares priced between $46 and $50 each

** ETOR expects profit to be between $56 million and $60 million for the three months ended March 31, compared with a $64 million profit a year earlier

** Goldman Sachs, Jefferies, UBS and Citigroup led a 16-firm underwriting syndicate for the offering

** Asset management giant BlackRock BLK.N had indicated on buying up to $100 million of shares in the offering

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))