Circle Internet Group, a leading stablecoin issuer, has set its initial public offering (IPO) price at $31 per share, surpassing the initial estimated range of $27 to $28. This pricing values the company at $6.8 billion. Circle, headquartered in New York, along with its founders and some original shareholders, aims to raise $1.05 billion by issuing 34 million shares. Due to strong demand, the company increased the number of shares offered from the initially planned 32 million.
Initially, Circle intended to offer 24 million shares at a price range of $24 to $26, targeting to raise $624 million. Additionally, Circle has granted underwriters, led by JPMorgan, Citigroup, and Goldman Sachs, the option to sell an additional 5.1 million shares within 30 days. The company's stock is set to begin trading on the New York Stock Exchange under the ticker symbol CRCL.
According to a filing with the U.S. Securities and Exchange Commission (SEC), Ark Investment Management, led by Cathie Wood, has expressed interest in purchasing up to $150 million worth of shares in this IPO.
