BOMB! The IPO of #Circle SHOOTS UP
USDC seeks $7.2 BILLION and #BlackRock / #ARK Investors want a piece of the pie of the giant Stablecoin
Circle, the issuer of the second #stablecoin largest in the world, USDC, is raising its ambitions for its upcoming Initial Public Offering (IPO).
The company now aims for a fully diluted valuation of up to $7.2 billion, a significant increase from its initial plans.
According to a recent filing with the SEC, Circle plans to offer up to 32 million shares at a price of between $27 and $28 each, compared to the 24 million shares at between $24 and $26 offered initially in May.
Interest from Giant Investors: This increase in expectations is supported by the strong interest from some of the most influential institutional investors in the world:
BlackRock, the largest asset manager in the world, is considering buying up to 10% of Circle's shares in its IPO.
Ark Invest, the investment firm of Cathie Wood, has expressed its intention to acquire shares worth $150 million.