A cryptocurrency-friendly trading platform has initiated the process for an initial public offering (IPO) in the United States following several earlier attempts by the company.
In a statement released on March 24, the firm announced that it submitted a registration statement regarding the IPO of its Class A common shares to the US Securities and Exchange Commission.
It has applied to have its Class A common shares listed on the Nasdaq Global Select Market under the ticker “ETOR.” The announcement clarified:
“A registration statement for these securities has been filed with the SEC but has not yet been activated.”
Public IPO announcement. Source: Source
This public filing follows more than two months after the company made confidential submissions to the SEC as part of its preparations for a potential IPO in New York, as reported on January 16.
According to the January submissions, the IPO filing could place the company’s valuation at over $5 billion, with a possible listing as early as the second quarter of 2025, based on sources familiar with the situation.
Platforms like this one are frequently favored by novice investors looking to purchase their first stock or cryptocurrency due to their user-friendly nature.
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This story is still developing, and additional information will be provided as it becomes available.