Circle Internet Group, the issuer of the popular USDC stablecoin, is expected to price its upcoming initial public offering (IPO) significantly above its initially marketed range as investor demand far exceeds supply. According to a recent report by Bloomberg, the company has garnered orders exceeding 25 times the number of shares available in this offering.
The anticipated pricing decision will be finalized after U.S. market hours on Wednesday, offering potential investors insight into the company’s valuation trajectory. Circle’s latest filing with the Securities and Exchange Commission (SEC) indicated plans to sell 32 million shares, with an initial price range set between $27 and $28 per share. At the upper end of this range, Circle’s IPO could value the firm at an impressive $7.2 billion on a fully diluted basis.
Among the investors actively placing orders for the IPO are notable institutions such as BlackRock and Ark Invest. The allocation process will prioritize buyers committed to holding the stock for the long term, a strategy that reflects a thoughtful approach to stable investment in the crypto space.
This outsized interest in Circle’s IPO serves as a clear indication of the robust demand for crypto-related firms, even as the industry continues to navigate a complex and evolving regulatory environment. Circle’s role as a key player in the blockchain-based payments and finance sectors further underscores its significance in the growing landscape of digital currencies.
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