According to the Israeli technology news site Ctech, the social trading and multi-asset brokerage eToro is eyeing an initial public offering (IPO) in the second quarter of 2021 following stellar growth in 2020 with a doubling of revenue and addition of 5 million new customers.
The technology news site reports that eToro is looking to book Goldman Sachs as its leading bank for the offering. Founded in 2007 by two brokers, the company has grown into an international social trading and brokerage powerhouse. The company is reported to have booked revenue of $500 million during the difficult pandemic year and has experienced a sharp rise in the number of new customers.
If the brokerage does list on an exchange, it would join a long list of successful Israeli firms that have already done so or are also planning to list on US equities exchanges. At the same time, representatives of eToro signaled that the news is just a ‘rumor’ having commented to Finance Magnates, that “eToro does not comment on market rumors.”
Don’t miss the latest news and discussion on our Telegram channel. Subscribe today!