USDC issuer Circle is now targeting $7.2 billion in valuation of major U.S. IPOs
Circle, the issuer of the second largest stable stock, is limited by market cap by market value USDCannounced on Monday that it has increased the expected price range for the upcoming initial public offering (IPO).
according to For Reuters, the new price range has been adjusted from the previously announced $24 to $26 per share to the ambitious $27 to $28 per share and is detailed in a filing with the U.S. Securities and Exchange Commission (SEC).
Settings for the Circle debut of the NYSE under the stock “crcl”
Circle is expected to raise about $896 million at the top of this revised price range, which will increase the company’s valuation to $7.2 billion, Reuters reported.
The decision to upgrade the IPO is attributed to several factors, including Circle’s growth in the Stablecoin market, a strong investor interest in cryptocurrency companies, and an expected favorable regulatory environment under President Donald Trump.
Additionally, Circle is expected to benefit from the current stability bill through Congress Genius Lawaims to establish clear guidelines for Stablecoin issuers.
Circle plans to list on the New York Stock Exchange later this week under the stock symbol “CRCL” as a book. Initially, when Circle applied for an IPO on May 27, it aimed at a price target of $5.65 billion at the original price target.
Positive prospects for encrypted IPOs
Through public, Circle will be subject to U.S. securities laws, including mandatory quarterly earnings reports and regulatory disclosures, designed to build trust among conservative investors, banks and government entities.
In a strategic move, Circle recently launched its network of stable cross-border payments called Circle Payments Network (CPN).
The network facilitates a variety of financial transactions, including business-to-business (B2B) supplier payments, Cross-border remittanceglobal cash mergers, wages and large-scale expenditures.
Earlier this year, the company also acquired Hashnote, the issuer of USYC Stablecoin developed by Cumberland Labs. This integration is designed to position USYC as the preferred collateral among cryptocurrency exchanges, custodians and with Circle’s existing USDC Stablecoin as the preferred collateral among cryptocurrency exchanges, custodians, and major brokers.
Matt Kennedy, senior strategist at Renaissance Capital, commented last week on the positive prospects of a cryptocurrency IPO, illustrate The current climate is more favorable than in the past three years.
He attributed this optimism to improved trade negotiations between the United States and its major trading partners, which revitalized the IPO market and mitigated the impact of previous tariffs.
For the upcoming product, Circle intends to sell 9.6 million shares, while existing shareholders, including venture capital firms Accel and General Catalyst, will offer another 14.4 million shares.
It is worth noting that Ark Investment Management, led by Cathie Wood, expressed interest in buying up valued at up to $150 million. stock During the Stablecoin issuer’s initial public offering.
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