The year’s biggest test of the IPO market will occur this week when retail broker eToro Group opens for trading Wednesday. eToro late Tuesday boosted the size of its IPO, which priced $2 above its expected price range. It ended up raising $620 million after selling 11.92 million shares at $52 each, up from its prior plans to offer 10 million shares at $46 to $50.
eToro shares are slated to trade Wednesday on the Nasdaq under the ticker symbol ETOR. At $52 a share, eToro’s valuation is $4.2 billion. BlackRock is interested in buying up to $100 million in class A shares at the IPO price, the filing said. Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup are lead underwriters on the deal.
