Crypto and stock trading platform eToro has boosted the size of its initial public offering to $620 million by pricing its shares above its previously suggested range.<\/p>\n
The platform and its backers sold over 11.92 million shares for $52 each, which are slated to start trading on the Nasdaq Global Select Market on May 14 under the ticker symbol ETOR, eToro said<\/a> in a May 13 press release.<\/p>\n Initially, the firm aimed to raise $500 million by offering 10 million<\/a> shares priced between $46 to $50 each.<\/p>\n The share offering<\/a> will remain open until at least May 15 and consists of more than 5.9 million shares sold by eToro and 5.9 million shares sold by specific existing shareholders.<\/p>\n The Israel-based eToro will go public as a rival to Robinhood Markets Inc. (HOOD), which went public in July<\/a> 2021 and whose shares are up over 67% year to date, according<\/a> to Google Finance.\u00a0<\/p>\n Robinhood closed May 13 trading up over 67% at $62 per share, nearing its all-time high of $65, which it hit in February. Source: <\/em>Google Finance<\/em><\/a><\/p>\n Initially, eToro made confidential filings with the SEC<\/a> in January for a public offering before publicly announcing<\/a> the plans on March 24.<\/p>\n Digital banking fintech firm Chime has also applied<\/a> to list its stock on the Nasdaq Global Select Market under the ticker symbol CHY. However, the number of shares and price range are still to be determined.<\/p>\n Investment advisory firm Renaissance Capital speculated<\/a> in a May 13 note to its clients that Chime\u2019s IPO could raise up to $1 billion.<\/p>\n Other crypto companies are also mulling plans to go public. Crypto exchange Kraken is reportedly considering a public offering<\/a> this year.<\/p>\n Stablecoin issuer Circle filed with the SEC on April 1, then paused its plans<\/a> after President Donald Trump\u2019s April 2 tariff announcements tanked global markets and stopped many in-the-works<\/a> public offerings.<\/p>\n Crypto custody services firm BitGo launched a global over-the-counter trading desk<\/a> for digital assets in February, after it was reported to be gearing up for an initial public offering slated for later this year.<\/p>\n Related: <\/strong><\/em>eToro US to cease nearly all crypto trading following SEC settlement<\/strong><\/em><\/a><\/p>\n In December last year, crypto exchange-traded fund issuer Bitwise predicted that at least five crypto unicorns<\/a> would go public in 2025: stablecoin issuer Circle, crypto exchanges Kraken and Figure, and crypto bank Anchorage Digital and blockchain analytics firm Chainalysis.<\/p>\n In 2021, Coinbase was the first major crypto firm to go public in the US<\/a>, listing its shares on the Nasdaq.\u00a0<\/p>\nCrypto IPOs in the works<\/h2>\n