Circle’s IPO Likely to Price Above Range as Investor Demand Surges: Bloomberg
Circle Internet Group is on track to price its initial public offering above the initial $27 to $28 per share range, driven by exceptionally strong investor demand, Bloomberg reports.
With orders surpassing 25 times the number of shares available, Circle plans to offer 32 million shares in the offering. Pricing at the high end would place the company’s valuation at around $7.2 billion on a fully diluted basis.
Major institutional investors, including BlackRock and Ark Invest, are among the bidders, with allocations favoring long-term investors. The final pricing is expected after U.S. markets close Wednesday.
This robust demand underscores growing institutional confidence in Circle’s USDC stablecoin business and its broader role in the crypto payments ecosystem, despite a challenging regulatory environment.
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