#CircleIPO

Circle's Shares Soar Nearly 200% After IPO, Surpassing US$90

Shares of the stablecoin issuer USDC, Circle Internet Group, surged sharply after officially listing on the stock exchange on Thursday (06/05) local time. The share price immediately broke the US$90 per share mark, far above its initial offering price.

According to data from TradingView, the stock with the code CRCL is on track to close well above the IPO price of US$31. The significant price spike even prompted a temporary halt in trading on the New York Stock Exchange.

Since Circle announced its final plan to go public, the company's potential valuation and share price have continued to show increases.

"The company and its supporters, including Allaire, managed to sell 34 million shares at about US$31 per share, raising approximately US$1.1 billion," the report noted on Wednesday (06/04).

Previously, Circle had raised the price range of its stock offering from an initial US$24–US$26 to US$27–US$28 per share. This change reflects the growing market confidence in the company's business prospects in the crypto sector.