Circle, the financial technology firm behind the popular USDC stablecoin, is generating unprecedented investor interest as it prepares for its initial public offering. Recent reports indicate that demand for Circle shares has been extraordinary, reflecting growing confidence in the stablecoin market.
According to detailed analysis of Circle's stock demand, investor interest has surpassed available shares by an astonishing 25 times. This overwhelming response has prompted the company to adjust its offering terms significantly.
The share offering was increased from an initial 24 million to 32 million shares, with each share priced between $27 and $28. If priced at the higher end of this range, Circle could raise approximately $896 million, valuing the company at $6.2 billion (or $7.2 billion including options).
Notable investors participating in the IPO include ARK Invest and BlackRock, with the latter potentially acquiring up to 10% of the offered shares. The IPO is being managed by banking giants JPMorgan, Citigroup, and Goldman Sachs, and will debut on the NYSE under the ticker symbol CRCL.
This public offering comes as USDC maintains its position as the second-largest stablecoin, currently accounting for 29% of the stablecoin market. The strong investor response suggests growing mainstream acceptance of stablecoins and their underlying technology.