

Circle Internet Group Prices IPO at $30 per share, above the expected range and giving the company a total market value of $6.8 billion.
Jun 05, 2025 am 11:10 AMNew York-based Circle, its founder and some original shareholders will raise $1.05 billion in the offering of 34 million shares.
The cryptocurrency firm Circle Internet Group priced its initial public offering at $31 per share on Wednesday evening, above the expected range of $27 to $28 and giving the company a total market value of $6.8 billion.
The New York-based company, known for issuing one of the world's biggest stablecoins, will raise $1.05 billion in the offering of 34 million shares. In a sign of the enormous demand for the crypto company, Circle increased the number of shares sold in the IPO from 32 million after the market closed.
Originally, Circle had planned to sell 24 million shares for $24 to $26 apiece and raise $624 million from the IPO. The company is also applying to list its shares on the New York Stock Exchange, where they will trade under the ticker symbol CRCL.
The joint bookrunners for the IPO are JPMorgan, Citigroup, and Goldman Sachs. The company has granted the underwriters a 30-day option to purchase up to an additional 5.1 million shares of common stock at the IPO price less the underwriting fees.
Among those expressing interest in the IPO is Cathie Wood's ARK Investment Management, which disclosed in an SEC filing a potential purchase of up to $150 million of the shares.
Circle is one of the earliest companies in the crypto industry and the issuer of USD Coin, commonly known by its ticker USDC. It's the second-largest stablecoin in the world, with a 27% share of the market, following Tether's USDT, which holds the majority share of 67%.
Earlier this year, Circle shifted its headquarters from Boston to New York.
For the year 2024, Circle reported net income of $156 million and revenue and reserve income of $1.68 billion. In 2023, the company reported income of $268 million and revenue of $1.45 billion.
News data source: kdj.com
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