The online investment platform eToro is planning an IPO and has submitted a corresponding application to the US Securities and Exchange Commission. It stated that the company could increase its revenue from 3.89 billion US dollars in 2023 to 12.6 billion US dollars in 2024. Around 96 percent of this comes from assets related to cryptocurrency, Bloomberg reports.

The price at which the shares will be offered is not clear from the report and will be announced at a later date. The company was founded in 2007 and is based in Israel. According to the report, eToro tried to go public as early as 2022, but failed. At that time, the company was valued at 10.4 billion dollars.

The company is to be listed on the fully electronic New York Stock Exchange, Nasdaq under the ticker symbol ETOR. Goldman Sachs, Jefferies Financial, the UBS Group and Citigroup are said to be responsible for the sale. According to Bloomberg, both the eToro Group itself and other shareholders are to sell shares.

(tlz)