Circle raises IPO target to $896M amid strong investor interest
Circle has increased its IPO target to $896 million amid rising investor interest, growing stablecoin adoption and a more favorable US regulatory environment.
Major stablecoin issuer Circle has increased its initial public offering (IPO) target to $896 million.
According to a June 2 filing to the US Securities and Exchange Commission (SEC), Circle now plans to offer up to 32 million shares at an IPO price range of $27 to $28 per share, an increase from the previous offering of 24 million shares priced between $24 and $26.
The news follows a late May announcement that the company would issue 9.6 million shares of Class A common stock. At the time, Circle hinted at a target valuation of $6.7 billion.