eToro might float an IPO in 2-3 years

eToro might float an IPO in 2-3 years

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The Israeli forex broker and social trading platform developer eToro might float an initial public offering (IPO) of stock in two or three years, but a specific time frame has not been discussed as of yet, said Lev Khasis, COO and First deputy CEO of Sberbank, quoted by several Russian media.

We remind you that earlier this year eToro and Sberbank set up a joint venture and back then the bank’s CEO Herman Gref hinted at an IPO of the broker. So far Sberbank, which is Russia’s largest bank, has invested in eToro around $27 million, along with the Chinese financial company Ping.

“We are certain that sooner or later this company (eToro) will float an extremely successful IPO and we would receive a high return on our investment,” Khasis said at a press conference in Moscow on the occasion of the launch of “How does the world of investment changes? MoneyManagement 2.0 – New rules of capital management” – a joint educational project of eToro and Sberbank.

“An IPO is one of the possible scenarios, but we have not discussed specific terms yet. We, as an investor, suppose that the company will not float an IPO earlier than in two-three years, so that it has time to grow both in activities and geographically,” Khasis clarified further.

Yoni Assia, CEO and founder of eToro, who was also present and press conference, noted that he expects the company to continue to grow in the next 10-20 years and an IPO could become one of the peaks in its development.

eToro was launched in 2008 and offers a social platform for investors to communicate, share strategies and trade in forex, CFDs, commodities, indices, stocks and exchange-traded funds (ETFs). It has more than 5 million registered users from 170 countries across the world.

eToro has licenses by UK’s  Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and Belize’s IFSC.

Recently the broker launched a new product – CopyFunds investments for copy trading.

Forex brokers IPOs are a relatively frequent occurrence – only this year four major brokers floated IPOs: CMC Markets, Hirose, BATS Global Markets and XTB.

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