Circle, USDC issuer, expands IPO size… "Aiming for a $10 trillion company valuation"
Summary
- Circle plans to increase its IPO size by 33% and is set to offer 32 million shares.
- By raising its offering price, the company aims to raise up to $896 million and targets a company valuation of up to $7.2 billion.
- Fueled by the growth of the stablecoin market and rising investor demand, Circle is expected to be listed on the New York Stock Exchange later this week.
Circle, the issuer of the stablecoin USDC, is expanding the size of its initial public offering (IPO).
According to Reuters on the 2nd (local time), Circle plans to offer 32 million shares in this IPO. This is a 33% increase from the previous 24 million shares.
The public offering price was also raised from $24–26 per share to $27–28 per share. As a result, the amount to be raised increased by more than 40%, from a maximum of $624 million to $896 million (₩1,236 billion).
Based on this, Circle explained that it is aiming for a company valuation of up to $7.2 billion (₩9,932.4 billion). This figure is significantly higher than its previous target of $5.65 billion.
Behind Circle's decision to expand its IPO size are the growth trend of the stablecoin market and increased investor demand in the virtual asset industry.
The circulation of USDC issued by Circle currently amounts to about $62 billion, which represents approximately 27% of the entire stablecoin market.
Circle is scheduled to be listed on the New York Stock Exchange later this week.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
