(Updates with responses from eToro and UBS in the fifth paragraph.)
eToro has submitted confidential filings to the US Securities and Exchange Commission for a potential initial public offering that could value the company at more than $5 billion, the Financial Times reported Thursday, citing people familiar with the matter.
The report said the company, which allows users to trade stocks, cryptocurrencies, and other assets, could list in New York as soon as the second quarter of this year.
Goldman Sachs (GS), Jefferies (JEF) and UBS (UBS) are advising eToro on the offering, the report added.
The company, founded in 2007, managed $11.3 billion in customer assets across 33 million accounts, according to a March 2024 Financial Times report.
EToro and UBS declined to comment to MT Newswires.
Goldman and Jefferies did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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