Israel's eToro Group said on Monday it was targeting a valuation of up to $4 billion in its initial public offering in the United States.

The retail trading platform and some existing stockholders are aiming to raise as much as $500 million by offering 10 million shares priced between $46 and $50 each.

Backed by major financial players

Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup are the lead underwriters for the offering.
The company will list on the Nasdaq Global Select Market under the symbol "ETOR."