EToro could set pricing on its initial public offering (IPO) at a much higher level than the marketed range, people familiar with the matter told Bloomberg.
The company planned to offer 10 million shares for $46 to $50 each, based on a previous filing, but received significantly more demand than shares available, according to the story.
The IPO is set to price after the U.S. market-close on Tuesday.
As with some others, the Israel-based company had paused its plans to list on the Nasdaq exchange in April amid shaky markets resulting from U.S. President Donald Trump’s trade policies. Last week, however, Bloomberg reported that it was proceeding with its IPO, becoming the first firm to resume going public plans. Among others delaying IPOs were stablecoin issuer Circle, payments app Klarna and ticket platform StubHub.
EToro is looking to receive a valuation of $4.5 billion which is below the $10.4 billion valuation it sought in 2021 when it first attempted to go public. It would trade under the ticket “ETOR”.