%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Investig.com -- Global online broker eToro Group Ltd (NASDAQ:ETOR) is set to price its IPO tonight, with the stock set to debut on Wednesday, May 14th. Shares will trade on the NASDAQ under the symbol “ETOR.” The company has been looking to price 10 million shares between $46 and $50 per share, raising up to $500 million. According to recent reports, the IPO is 10 times oversubscribed, so a pricing above the IPO range should not be unexpected. The company is selling 5 million shares in the offering, and selling shareholders, including CEO and founder Yoni Assia, are selling the other 5 million shares. The offering is being led by Goldman Sachs (NYSE:GS), Jefferies, UBS, and Citigroup (NYSE:C). The underwriters have been granted an option to purchase up to an additional 1.5 million shares. Cornerstone investor BlackRock Inc (NYSE:BLK) has indicated an interest in purchasing up to an aggregate of $100 million of class A common shares in the IPO. As many as 82.37 million Class A and Class B shares will be outstanding immediately following the offering, suggesting a total valuation of $4.12 billion if the shares price at the top end of the range. Founded in 2007, eToro boasted over 3.5 million funded accounts in 75 countries as of the end of 2024. eToro has been a pioneer in the crypto space. The company was among the first EU-regulated brokers to offer Bitcoin. Further, CEO Assia, co-authored the Colored Coins white paper with Ethereum creator Vitalik Buterin—one of the earliest protocols for asset tokenization on Bitcoin. Net contribution was $787 million in 2024, up 41% from the prior year. Total commission for the year was up 46% to $931 million. Net income for 2024 surged 1,161% to $192 million.This content was originally published on http://Investing.com