Israel's eToro seeks to raise up to $620 million in upsized US IPO

(Reuters) -eToro Group is readying to rise astir $620 cardinal successful an upsized U.S. archetypal nationalist offering (IPO) priced supra marketplace range, the institution said connected Tuesday.

The banal and cryptocurrency trading level has offered 11.92 cardinal shares astatine $52 apiece, supra its people scope of $46 to $50.

The banal is expected to statesman trading connected the Nasdaq Global Select Market nether the awesome "ETOR" connected Wednesday, May 14.

Founded successful 2007, the Israel-based institution antecedently tried to spell nationalist done a merger with Betsy Cohen-backed peculiar intent acquisition institution (SPAC) astatine a $10.4 cardinal valuation. However, the program fell done successful 2022.

In September, eToro agreed to bounds its U.S. crypto offerings to bitcoin, bitcoin currency and ether to settee charges with the Securities and Exchange Commission that it operated arsenic an unregistered broker and unregistered clearing agency.

Goldman Sachs, Jefferies, UBS and Citigroup are the pb underwriters for the IPO.

(Reporting by Gnaneshwar Rajan successful Bengaluru; Editing by Sumana Nandy)