Circle IPO orders exploded 25 times, and will be officially listed today at $31

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ABMedia
06-05
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US stablecoin giant Circle is about to go public (IPO), and according to Bloomberg, Circle has raised nearly $1.1 billion at a price of $31 per share. The pricing is higher than previously expected, indicating that stablecoin issuers are gaining broader recognition. The company's stock will begin trading today (6/5) on the New York Stock Exchange, with the ticker symbol CRCL.

(Circle challenges IPO again, achieves net profit despite headwinds, is stablecoin a good business?)

Circle IPO scale and valuation adjusted again, oversubscribed 25 times

Just two days ago, Circle was attempting to sell 32 million shares at a price of around $27 to $28 per share. At the highest price, Circle's fully diluted valuation would reach $7.2 billion, higher than the initially estimated $5 billion.

(Circle raises IPO scale: valuation up to $7.2 billion, BlackRock and Ark position early)

The latest pricing increases Circle's market value to $6.9 billion. When including employee stock options, restricted stock units, and warrants, the company's fully diluted valuation is approximately $8.1 billion.

Circle sold 14.8 million shares in this IPO, while existing shareholders sold 19.2 million shares. Informed sources revealed that the demand is over 25 times the existing subscription volume when orders were stopped on Tuesday.

Circle to trade today with code CRCL

Informed sources disclosed that asset management giant BlackRock intends to purchase up to 10% of the IPO shares, and Ark Invest led by Cathie Wood has also stated it will invest $150 million. This indicates that stablecoins are transforming from crypto trading tools to new-generation financial infrastructure, rapidly attracting mainstream capital.

This IPO is led by JPMorgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc. The company's stock is expected to begin trading on Thursday (6/5) on the New York Stock Exchange, with the ticker symbol CRCL.

Risk Warning

Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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