Investing.com -- Online broker eToro said Monday it plans to offer 10 million shares between $46-$50 per share in its upcoming IPO, raising as much as $500 million.  The company will be selling half the shares being offered, with selling shareholders selling the other half.

The company will be listed on the NASDAQ under the stock ticker “ETOR.”

The IPO is being led by Goldman Sachs, Jefferies, UBS, and Citigroup (NYSE: C ).

If the share price at the end of the IPO range, the market value of the company could reach around $4.2 billion.

eToro saw its number of Funded Accounts reach approximately 3.5 million in 2024, marking a solid presence across 75 countries globally.

The platform’s Net Contribution for the year stood at $787 million, a substantial increase from the $557 million reported at the end of the previous year. This represents a growth of $230 million, or 41%. eToro’s revenue generation capacity was further highlighted by its Total Commission for the year, which amounted to $931 million, up from $639 million in the prior year, an impressive 46% rise.

In terms of profitability, eToro recorded a Net income of $192 million for the year ended December 31, 2024, a significant leap from the $15 million reported for the year ended December 31, 2023. This marks an increase of $177 million, or an extraordinary 1,161%.

The company’s Adjusted EBITDA also reflected strong performance, reaching $304 million, compared to $117 million in the previous year. This indicates a robust increase of $187 million, or 159%, demonstrating the company’s enhanced earnings before interest, taxes, depreciation, and amortization.

Selling shareholders in the IPO will include founder and CEO Yoni Assia and co-founder Ronen Assia.  In addition, sellers will include Spark Capital, BRM Group, Andalusian, and CM Equities, among others.