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Illustrative: Investors check stock prices on their mobile phones near a display of the stock market index at a brokerage in Beijing on Wednesday, June 12, 2019. (AP/Ng Han Guan)
Israeli fintech firm eToro is reportedly planning to hold an initial public offering of shares on the Nasdaq stock exchange at a valuation of $5 billion in the second quarter of 2021.
The Israel-based online trading platform allows customers to trade in stocks, currencies, commodities and cryptocurrencies as well as derivatives of such assets.
The firm has added 5 million new users this year, bringing the total number of registered users to some 17 million, with its revenues tripling to $500 million, according to the Calcalist financial website, which first reported on the IPO on Monday.
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Huntley Mitchell 17 Dec 2020
The Australian Securities & Investments Commission (ASIC) has placed restrictions on Regional Express (Rex) for failing to disclose its plans to fly domestic routes on the ASX.
The corporate regulator has restricted Regional Express (Rex) from issuing a reduced-content prospectus and using exemptions for reduced disclosure in fundraising documents until 14 December 2021.
ASIC’s decision means the airline will not be able to rely on reduced-disclosure rules and instead must issue a full prospectus in order to raise funds from investors.
The corporate regulator’s decision was based on Rex’s failure to disclose to the market that it was considering the feasibility of commencing domestic operations, such as flying to capital cities, in addition to its regional operations.