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

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

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