Forex Broker eToro Approaches Nasdaq Listing Through F-1 IPO Application
eToro is preparing for an IPO on Nasdaq under the ticker symbol "ETOR" and is currently awaiting review from the SEC. Details about the number of shares and price range are still in process.
eToro, social trading and well-known forex broker, is getting closer to going public in the U.S. The company has officially filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission (SEC), indicating its intention to launch an initial public offering (IPO) of Class A common stock on Nasdaq with the ticker symbol "ETOR."
Form F-1 is the required documentation for a foreign company wishing to list its shares in the U.S, either on Nasdaq or NYSE. While the filing marks a significant step forward, the number of shares and expected price range have not been announced yet. eToro is still waiting for the SEC to complete its review, and there is no confirmed schedule or final details about the offering at this time.
To support the IPO, forex broker eToro has assembled a powerhouse team of financial institutions. Goldman Sachs, Jefferies, UBS, and Citigroup are acting as lead managers running the book.
Additional support will come from companies like Deutsche Bank Securities, BofA Securities, Cantor, Citizens JMP, Mizuho, and TD Securities. Joint managers for this IPO include Rothschild &Co, Moelis &Company, Needham &Company, Susquehanna Financial Group, and Canaccord Genuity.
Although the exact amount is still under wraps, market speculation suggests that this IPO could be valued at over $5 billion. The preliminary prospectus will soon be available through the SEC’s EDGAR database and from registered underwriters.
We will continue to monitor the developments of forex broker news. Stay tuned for updates on the journey of forex broker eToro to become a public company!