Bullish, the cryptocurrency exchange backed by Peter Thiel, raises its IPO valuation target to 4.82 billion USD.
The company plans to issue 30 million shares priced from 32-33 USD each, raising nearly 990 million USD at maximum. Most of the funds raised will be converted into US Dollar stablecoin, although the specific issuing partner has not been announced.
MAIN CONTENT
Bullish raises its IPO valuation to 4.82 billion USD.
Expected to issue 30 million shares, with each share priced between 32 and 33 USD.
Most of the funds raised will be converted into US Dollar stablecoin, with the issuing partner not yet disclosed.
What is Bullish's target IPO valuation and how does it plan to raise funds?
Bullish aims for an IPO valuation of up to 4.82 billion USD, marking a significant step forward in its expansion plans.
The company's plan is to issue 30 million shares with an expected price range of 32 to 33 USD per share, aiming to raise a maximum of approximately 990 million USD. This amount will be reinvested into US Dollar stablecoin to maintain liquidity stability and minimize volatility in the cryptocurrency market.
Who are the major investors participating in the Bullish IPO?
BlackRock along with several funds under ARK Investment has committed to purchasing shares worth up to 200 million USD, contributing to enhancing Bullish's credibility and financial strength.
The participation of major funds reflects confidence in the growth potential as well as the sustainable development strategy of the Bullish exchange in the global cryptocurrency market.
What licenses has Bullish received in international markets?
Bullish has completed the legal approval steps in the United States, Germany, Hong Kong, and Gibraltar, ensuring compliance with strict regulations in key areas.
Being licensed in multiple major markets helps Bullish enhance transparency and reliability for investors as well as cryptocurrency users, while also expanding cross-border operational capabilities.
Converting most of the funds raised from the IPO into US Dollar stablecoin helps Bullish maintain stable liquidity and minimize the risk of severe price volatility.
Peter Thiel, Founder & Strategic Investor, 2023
Frequently Asked Questions
How much total funding does Bullish expect to raise through the IPO?
Bullish is expected to raise a maximum of approximately 990 million USD through the issuance of 30 million shares priced at 32-33 USD each.
How will most of the IPO funds for Bullish be used?
Most of the funds raised will be converted into US Dollar stablecoin to maintain financial and liquidity stability.
Which major investors are involved in Bullish's IPO?
BlackRock and several funds under ARK Investment plan to invest up to 200 million USD in Bullish shares.
In which countries has Bullish received operational licenses?
Bullish is licensed in the United States, Germany, Hong Kong, and Gibraltar, ensuring legal operations in key markets.
Has the issuing partner for Bullish's stablecoin been announced yet?
Currently, the issuing partner for Bullish's stablecoin during the IPO has not been publicly disclosed.
Source: https://tintucbitcoin.com/bullish-nang-muc-tieu-ipo-len-482-ty/
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