
Circle Sets IPO Price at $31, Eclipsing Expectations with $6.9 Billion Valuation
Circle has established the price for its initial public offering (IPO) at $31 per share, surpassing its anticipated price range of $24 to $26. The IPO, which is being traded under the ticker CRCL, has raised approximately $1.1 billion, resulting in a total company valuation of $6.9 billion.
Key Highlights:
- The stablecoin issuer will commence trading on New York Stock Exchange from Thursday.
- Circle’s IPO marks its return to public markets after an initial failed attempt in 2021.
- Bill Hagerty, a senator, remarked on the importance of stablecoin legislation for consumer protection and modernization of payment systems.
Circle’s strategy to go public is seen as an opportunity to access broader capital markets and improve its standing following the recent volatility in cryptocurrency values. The transition to a publicly traded entity comes as interest in digital assets is revitalized, and regulatory discussions regarding stablecoins evolve.