eToro prices IPO above range at $52 a share to raise $620M

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Crypto and stock trading platform eToro has boosted the size of its initial public offering to $620 million by pricing its shares above its previously suggested range.The platform and its backers sold over 11.92 million shares for $52 each, which are slated to start trading on the Nasdaq Global Select Market on May 14 under the ticker symbol ETOR, eToro said in a May 13 press release.Initially, the firm aimed to raise $500 million by offering 10 million shares priced between $46 to $50 each.The share offering will remain open until at least May 15 and consists of more than 5.9 million shares sold by eToro and 5.9 million shares sold by specific existing shareholders.The Israel-based eToro will go public as a rival to Robinhood Markets Inc. (HOOD), which went public in July 2021 and whose shares are up over 67% year to date, according to Google Finance. Robinhood closed May 13 trading up over 67% at $62 per share, nearing its all-time high of $65, which it hit in February. Source: Google FinanceInitially, eToro made confidential filings with the SEC in January for a public offering before publicly announcing the plans on March 24.Digital banking fintech firm Chime has also applied to list its stock on the Nasdaq Global Select Market under the ticker symbol CHY. However, the number of shares and price range are still to be determined.Investment advisory firm Renaissance Capital speculated in a May 13 note to its clients that Chime’s IPO could raise up to $1 billion.Crypto IPOs in the worksOther crypto companies are also mulling plans to go public. Crypto exchange Kraken is reportedly considering a public offering this year.Stablecoin issuer Circle filed with the SEC on April 1, then paused its plans after President Donald Trump’s April 2 tariff announcements tanked global markets and stopped many in-the-works public offerings.Crypto custody services firm BitGo launched a global over-the-counter trading desk for digital assets in February, after it was reported to be gearing up for an initial public offering slated for later this year.Related: eToro US to cease nearly all crypto trading following SEC settlementIn December last year, crypto exchange-traded fund issuer Bitwise predicted that at least five crypto unicorns would go public in 2025: stablecoin issuer Circle, crypto exchanges Kraken and Figure, and crypto bank Anchorage Digital and blockchain analytics firm Chainalysis.In 2021, Coinbase was the first major crypto firm to go public in the US, listing its shares on the Nasdaq. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fightSource link