According to BlockBeats, the cryptocurrency trading platform Bullish, backed by billionaire Peter Thiel, is set to list on the New York Stock Exchange under the ticker symbol BLSH. The company initially planned to sell 20.3 million shares at a price range of $28 to $31 per share, potentially raising up to $629.3 million. Underwriters have a 30-day option to purchase an additional 3.045 million shares.
On August 11, Bullish expanded its initial public offering (IPO) size, now targeting a valuation of up to $4.82 billion, a significant increase from the previous $4.2 billion target. The revised plan involves selling 30 million shares at a price range of $32 to $33 per share, which could raise approximately $990 million at the highest price.
Bullish was launched by Block.one, the blockchain company behind EOS, in 2020. Notable investors BlackRock and Cathie Wood's ARK have expressed intentions to purchase $200 million worth of shares. In its filing, Bullish disclosed that it holds over $3 billion in liquid assets, including 24,000 BTC, 12,600 ETH, and $418 million in cash and stablecoins. The company operates a digital asset trading platform and owns the well-known cryptocurrency media outlet CoinDesk.
