Etoro climbs on the beginnings of the Nasdaq, signaling the renewal in the IPO related to the crypto
- The Etoro trading platform took place exceptionally during its first day on the American Stock Exchange.
- The demand for the company's actions was phenomenal before the official starts on the NASDAQ, and for this, the company increased its size of IPTR on the stock market to 620 million dollars.
- The company's revenues spectacularly increased from $ 3.4 billion in 2023 to 12.1 billion dollars in 2024, but should represent a smaller percentage of the 2025 income.
The Etoro group made fantastic beginnings on US Exchange on Wednesday, with the course of action child Almost 30% on its first day of negotiation. The course of its shares closed at $ 67, above its $ 52 IPO. He brings the company's market capitalization to more than $ 5.5 billion.
The size offer reflects a high demand for investors
The successful beginnings on the market come after the ETORO's strategic decision to pass its initial public offer from $ 500 million to $ 620 million before registration. The company and the existing shareholders sold approximately 11.92 million shares, half of each, after having set the price of shares at a higher price than the range of $ 46 to $ 50.
This impressive performance was carried out despite the initial delays due to the turbulence of the market. President Trump's pricing announcements have temporarily arrested many planned public offers.
The funds managed by Blackrock had previously expressed their interest in buying up to $ 100 million in shares at the price of the IPO, which was an indication of the institutional belief in the negotiation platform.
This successful list confirms the fact that retail investment is a sustained trend and not a fashion that passes, said Robert Francis, Managing Director of Etoro Australia.
The company's regulatory documents indicated very strong growth in the Crypto -related income, which amounted to $ 12.1 billion in 2024, compared to $ 3.4 billion a year ago. However, the company considers that the crypto will take a smaller share of commercial commissions at the beginning of 2025, which means the diversification of sources of income.
The successful beginnings of Etoro are remarkable as a direct competitor Robinhood Stock plunge 1.9% the same day.
The offer, which is led by some of the largest financial institutions in the world such as Goldman Sachs and Citigroup, is a potential resurgence of the IPO Crypto landscape. A number of other main digital asset companies, such as Kraken and Circle, also provide public offers. Although some plans were suspended after the recent market volatility.
Etoro's journey to public procurement was not without challenges, having previously abandoned a spac merger of $ 10 billion in 2022 in the middle of the market conditions linked to the pandemic and inflation problems.
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