Investing.com - The initial public offering of Circle Internet Group Inc (NYSE:CRCL), a leader in stablecoins, saw a significant rise on its first trading day on the New York Stock Exchange on Thursday. The stock opened at $69 per share after pricing 34,000,000 shares at $31 per share. The stock continued to rise to $85 per share, an increase of 174%.
Circle offered 14,800,000 shares in the initial public offering, while selling shareholders offered an additional 19,200,000 shares.
The company and shareholders raised over $1.05 billion in the offering.
Based on the latest price, the company's value is estimated at over $17.5 billion.
J.P. Morgan, Citigroup Inc, and Goldman Sachs Group Inc (NYSE:GS) acted as active joint bookrunners for the offering.
Circle is a global fintech company that helps businesses use digital currencies and blockchain technology for payments and financial applications. The company operates the largest stablecoin network in the world, issuing USDC and EURC through regulated subsidiaries, and provides tools to integrate stablecoins into products and processes.
In 2024, Circle recorded revenues of $1.7 billion, a net income of $155.7 million, and an adjusted EBITDA of $284.9 million. For the first quarter of 2025, revenues reached $578.6 million, net income was $64.8 million, and adjusted EBITDA was $122.4 million.$BTC
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