Last week stablecoin issuer Circle formally launched its IPO to list on the New York Stock Exchange. It is now expanding the number of shares to be sold by a third – both new shares being issued by Circle and existing investors selling. Additionally, it is raising the price range from $24-$26 per share to $27-$28 per share, meaning $896 million in stock is being sold, valuing the company at $6.2 billion.
Typically this sort of expansion follows significant demand and oversubscriptions for the stock on offer.
Initially 24 million shares were available, of which 9.6 million were new shares being offered by Circle, with the rest from investors selling. Today Circle said there would now be 32 million shares on offer, with the same split between itself and existing investors.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
