Robinhood Rival EToro, Backers Raise $620 Million in Upsized IPO

EToro Group Ltd. and some of its shareholders raised nearly $620 million in an upsized US initial public offering priced above the marketed range.

The trading and investment platform and a group of its investors sold 11.92 million shares at $52 each, according to a statement Tuesday. Funds and accounts managed by BlackRock Inc. had signaled interest in buying as much as $100 million worth of EToro shares at the IPO price, according to an earlier filing.