Cryptocurrency and stock trading platform eToro Group Ltd. priced its upsized initial public offering at $52 per share on Tuesday ahead of its Wall Street debut.
What happened: The Israeli firm offered 11.92 million shares at $52 apiece, above its target range of $46 to $50. The offering includes 5,961,509 Class A common shares sold by eToro and 5,961,509 Class A common stock sold by existing shareholders.
The shares are expected to begin trading on the Nasdaq stock exchange on Wednesday, under the ticker symbol “ETOR,” according to a statement issued by the company.
Goldman Sachs Group Inc. (NYSE:GS), Jefferies Financial Group Inc. (NYSE:JEF), UBS Group AG (NYSE:UBS) and Citigroup Inc. (NYSE:C) are the lead underwriters for the IPO.
See Also: Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator’s Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto’s Sharp Rebound
Launched in 2007, eToro is a multi-asset trading platform, allowing investments in stocks, commodities and cryptocurrencies such as Bitcoin (CRYPTO: BTC).
Cryptocurrency-linked stocks already have a substantial presence on Wall Street, including Coinbase Global Inc. (NASDAQ:COIN), which is set to join the S&P 500 index and Robinhood Markets Inc. (NASDAQ:HOOD).
Visit Benzinga Edge Stock Rankings to discover more equities in this cohort and see how they score across vital metrics.
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