Circle increases its IPO size, targeting a valuation of $7.2 billion

Odaily Planet Daily News: Stablecoin USDC issuer Circle has raised its IPO issuance plan, intending to issue 32 million Class A common shares at a price of $27 to $28 per share, up from the previous plan of 24 million shares with a pricing range of $24 to $26. If calculated at the upper limit of the price range, Circle's IPO valuation will reach $7.2 billion, aiming to raise up to $896 million.
Circle plans to list on the New York Stock Exchange under the stock code "CRCL." Previously, the registration documents submitted to the U.S. Securities and Exchange Commission on May 27 showed a slightly lower planned valuation. This increase indicates strong interest from market investors, with institutions including BlackRock expressing strong support.

Circle is the issuer of USDC, the world's second-largest stablecoin by market capitalization. Although its revenue scale is not as large as its competitor Tether, Circle achieved a 55.1% growth in the first quarter of 2025, reaching $557.9 million, driven by U.S. Treasury yields. Standard Bank expects the total market capitalization of the stablecoin market to grow tenfold by the end of 2028. (The Block)