Circle Internet Group has filed an amended registration with the U.S. Securities and Exchange Commission as it moves forward with its initial public offering, raising its target price range and seeking a valuation of up to US$7.2 billion.
The company now plans to offer 32 million shares of Class A common stock, comprising 12.8 million shares from Circle and 19.2 million from existing shareholders.
The updated price range is set between US$27 and US$30 per share, up from the earlier range of US$24 to US$26.
Circle has applied to list its shares on the New York Stock Exchange under the ticker symbol “CRCL.”
The underwriters have a 30-day option to purchase up to 4.8 million additional shares to cover over-allotments.
The company is the issuer of the USDC stablecoin and operates within the digital asset and payments ecosystem.
It previously aimed to raise approximately US$624 million at a US$6.71 billion valuation, according to an earlier filing.
The revised figures reflect growing investor interest and a more favourable market outlook for crypto-related firms.
ARK Investment Management has expressed interest in purchasing up to US$150 million worth of shares at the IPO price, though no formal agreement has been signed.
J.P. Morgan, Citigroup, and Goldman Sachs are leading the offering, supported by a wider syndicate of financial institutions.
Earlier reports suggested that Coinbase and Ripple had explored a possible acquisition of Circle, but no deal was finalised.
Featured image: Edited by Fintech News Singapore, based on image by intanyusufwafa via Freepik
