#CircleIPO

Bloomberg reported on Wednesday (June 4) that the initial public offering of FinTech Circle is likely to exceed its market range, as the bulletin indicated that orders exceeded the number of available shares by more than 25 times.

The stablecoin company is offering 32 million shares at a price ranging from $27 to $28 per share, up from 24 million shares at a price ranging from $24 to $26 per share.

Bloomberg reported that Circle will raise $896 million from the offering. The report added, citing people familiar with the matter who requested anonymity, that the IPO price is expected to be set on Wednesday evening.