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eToro confirms deal with Spac for public listing at $10.4bn valuation

The deal should be completed by the third quarter of 2021, the companies said in a joint statement

By

Bérengère Sim

'Today marks a momentous milestone for eToro as we embark on our journey to become a publicly traded company with Betsy Cohen and the team at FinTech V,' eToro boss Yona Assia said
'Today marks a momentous milestone for eToro as we embark on our journey to become a publicly traded company with Betsy Cohen and the team at FinTech V,' eToro boss Yona Assia said Photo: Omar Marques/Getty Images

Popular online brokerage eToro announced that it would merge with blank cheque company FinTech Acquisition Corp V in a $10.4bn deal.

The 16 March statement comes as Spacs – special purpose acquisition companies – have boomed since the beginning of the pandemic in the US, and the trend is starting to make waves in the UK too.

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