10 Mln Shares
The offering is expected to generate net proceeds of around $217.7 million, based on an assumed offer price of $48.00 per share, which is the midpoint of the price range. The management plans to use the proceeds primarily for general corporate purposes, including working capital, operating expenses, and capital expenditures. A portion of the proceeds may be used to make acquisitions or investments.
The Company
Founded in 2007 by Yoni Assia and his brother Ronen, eToro is on a mission to transform the retail investing experience by pioneering social investing. It has built a collaborative investment community designed to provide users with the educational resources and tools they need to grow their knowledge and wealth.
As of December 31, 2024, the company had 3.5 million funded accounts across its global footprint of 75 countries. For the year ended December 31, 2024, eToro generated $12.64 billion in revenue and income — a more-than-threefold growth from the previous year. Driven by the strong top-line growth, net profit increased sharply to $192.4 million or $8.76 per share from $15.3 million or $0.72 per share in 2023.