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Retail trading platform eToro has made confidential filings to US regulators in a significant step towards an initial public offering in New York this year that could value the business at more than $5bn. The group, whose largest market is the UK, is the latest to avoid listing in London, which has been struggling to attract and retain high-profile company listings.
Chief executive and founder Yoni Assia told the Financial Times last year that a US listing would give the company access to a broader range of investors than a presence on the UK market. “Very few of our global clients would trade UK shares,” he said. “Something in the US market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the US.”
https://www.ft.com/content/0c492c61-a2ba-4314-b970-8753e34647bb
