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USDC Stablecoin Parent Circle Raises Price Range, Size of IPO
Gabby Jones / Bloomberg via Getty Images
Circle has upped the number of shares and their price range for its planned IPO. Fintech firm Circle Internet Group, the issuer of the USDC stablecoin, on Monday increased the size and price range of its planned initial public offering (IPO).
In a regulatory filing, Circle said it plans to offer 12.8 million shares of Class A common stock at between $27 and $28 each. Last Tuesday, it said it intended to offer 9.6 million Class A shares at between $24 and $26 apiece.
In addition, Circle wrote that selling stockholders identified in its prospectus are offering 19.2 million shares, up from the previous 14.4 million.
Circle said it has been approved for listing on the New York Stock Exchange (NYSE) under the ticker "CRCL."
According to CoinMarketCap, USDC is the seventh-largest cryptocurrency, with a market cap of nearly $61 billion.
Read the original article on Investopedia
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