Ping An, Sberbank and Commerzbank are in line to exit the share trading platform developer, while SoftBank is backing a $650m private placement.

US-headquartered online share trading service eToro agreed yesterday to a reverse takeover that will score an exit for insurance group Ping An and financial services firms Sberbank and Commerzbank.

The company is merging with FinTech Acquisition Corp V, a special purpose acquisition company that floated on the Nasdaq Capital Market in a $218m initial public offering in December 2020, and will take its stock market listing in the process.

The deal valued eToro at almost $9.5bn and will give…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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