The biggest test in the public subscription market will take place this week when the EToro Group is opened on Wednesday. Etoro was late on Tuesday’s general subscription volume, which prices prices are higher higher than the expected price range. It ended up collecting $ 620 million yet sale 11.92 million shares at $ 52 each Former plans To offer 10 million shares at 46 to 50 dollars.
Etoro shares are scheduled for Wednesday Nasdak Under the ETOR code. At $ 52 per share, Etoro’s rating is $ 4.2 billion. Blackrock The file said that interested in purchasing up to $ 100 million in category A shares at the public subscription price. Goldman Sachs, Jeffrez, UBS Investment Bank and Citigroup They are the main subscription to the deal.
ETORO spokeswoman refused to comment on the start of the subscription period.
The etoro menu comes at a pivotal time for the public subscription market, which has been largely sleeping since 2021 when 397 record companies were published. However, “Category 2021” has greatly performed a bad performance in the broad market with only 17.4 % trading in public subscription offer, according to Nesolon Capital, a research provider before popular briefing boxes boxes that focus on public subscription.
Matt Kennedy, the chief strategy of the public subscription market in Renaissance, said, even if Etoro’s performance is good, it will not be possible to return investors to subscription subscriptions. Kennedy told luck. Refer The health detailedDigital health company is scheduled to be traded next week, and other candidates such as the television advertising program provider MntnSpecialized insurance company and bladder circle That was presented, but has not yet advanced with their operations.
Kennedy said: “The successful public subscription for Etoro will come a long way, but we will need to see many in the other hand in order to obtain a meaningful receipt this summer,” Kennedy said.
Who earns money on Itoro?
Itoro had a rugged journey to public stock markets. The trading company was one of many companies that Try To integrate with a private purposes in 2021, SEC never signed the deal, and in 2022, Etoro ended to withdraw The deal. Earlier this year, Etoro, along with other companies such as Klana and Stumbhub, was on the right path for the public, but had to put their deal On the pause In April after President Donald Trump revealed the “Tahrir Day” tariff, which caused a large sale in the broad market.
ETORO was founded in 2007, and offers a customer trading platform, including Crypto, similar to the US -based trading platform.
Etoro is profitable, with a $ 192.38 million of net income for the year ending December 31, an increase of $ 15.25 million in 2023. On a quarterly basis, the company recorded a profit of $ 59.1 million for the quarter ending on December 31, compared to $ 16 million in the period of time in 2023.
The total revenue jumped to $ 12.6 billion in 2024 from $ 3.89 billion in 2023.
Of the 11.92 million shares provided in public subscription, 5.96 million shares come from Etoro itself while the rest of the current shareholders will come. This includes Yoni Assia, CEO of Etoro and co -founder, who unloads 549,635 Category A and will witness a decrease in voting power to 9.34 % after the show. At $ 52 per share, Assia can make $ 28.6 million in sale. Ronin Asia, the brother of Uni and Etoro’s founder, sells 254,901 shares, which means that it can achieve up to $ 13.2 million while his voting strength will decrease to 3.42 % after the public subscription.
Spark Capital, adventure company Lead Etoro’s tour of $ 15 million in 2012 owns the largest stake in Etoro. Spark offers 670,257 shares and can get $ 34.85 million with public subscription. Its strength is expected to drop to nearly 14 % after the width.
BRM, a project company from Tel Aviv, Israel and Andalusian SPV, is the investment company from Jeffrey Kaplan, shares. (Kaplan is the former COO for the Appaloosa Management.) BRM sells 41,518 category A -Class, which means that it can make $ 21.8 million, while the voting power is scheduled to decrease to 8.71 %. Andalusian can achieve $ 32 million from selling 618,999 shares, while voting power is expected to decrease to 8.44 %.
This story has been updated to include Etoro prices
This story was originally shown on Fortune.com
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