According to Bloomberg, the Stablecoin Issuer Circle Internet Group can price upcoming initial public offerings (IPOs) that are well above the market range after much greater demand from investors.
We reportedly receive orders of more than 25 times the shares available in the offer. The Circle is expected to complete pricing following US market hours on Wednesday.
Sircle's latest filing with the Securities and Exchange Commission (SEC) showed plans to sell 32 million shares ranging from $27 to $28. At the high end of that range, the IPO values the company at around $7.2 billion on a fully diluted basis.
Investors ordering may include major institutions such as BlackRock and Ark Invest. The allocation supports buyers who plan to hold shares in the long term, according to the report.
The profits of the masses show strong demand for exposure to crypto-related companies, despite the industry navigating the evolving regulatory environment. Best known for issuing USDC Stablecoin, Circle plays a key role in blockchain-based payments and financial infrastructure.
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