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USDC Stablecoin Issuer Circle Prices IPO Above Expected Range
CFOTO / Future Publishing via Getty Images
The company is offering 14.8 million shares and selling stockholders 19.2 million shares, Circle said, adding underwriters have a 30-day option to purchase up to an additional 5.1 million shares. Fintech firm Circle Internet Group, which issues the USDC stablecoin, on Wednesday priced its upsized initial public offering (IPO) above its expected range.
The offering now totals 34 million shares at $31 each, up from 32 million shares at an expected range of $27 to $28 announced Monday. The company is offering 14.8 million shares and selling stockholders 19.2 million shares, Circle said, adding underwriters have a 30-day option to purchase up to an additional 5.1 million shares.
Shares are expected to begin trading Thursday on the New York Stock Exchange (NYSE) under the ticker "CRCL."
USDC is the seventh-largest cryptocurrency, per CoinMarketCap, with a market cap of about $61.5 billion.
Read the original article on Investopedia
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