Trading platform eToro Group Ltd said it is seeking to raise up to $500 million through a US initial public offering that could value the company at around $4 billion.
The company plans to offer 10 million Class A common shares priced between $46 and $50 apiece, with half of the shares being sold by eToro and the rest by existing shareholders.
eToro has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol "ETOR."
BlackRock, the world’s largest asset manager with $10 trillion in assets under management, has signaled interest in purchasing up to $100 million worth of stock in the offering.
Founded in 2007, eToro allows retail investors to trade equities, cryptocurrencies and other financial assets on its social investing platform. The Israel-based firm confidentially filed for the IPO in January.
The planned Nasdaq debut comes after eToro's previously proposed merger with a blank-check firm, FinTech Acquisition Corp. V, fell through in 2022.
That deal, which had sought to take eToro public at a valuation of $10.4 billion, failed to gain approval from the US Securities and Exchange Commission.
eToro joins a small group of crypto-affiliated companies that have gone public in the US, including Coinbase and several bitcoin mining firms. Stablecoin issuer Circle also filed to list shares earlier this year but has yet to update its plans as market conditions remain uncertain.