Circle Internet Group, a global fintech and stablecoin leader, has announced the launch of an initial public offering (IPO) on the New York Stock Exchange.
JP Morgan, Citigroup, and Goldman Sachs are acting as joint lead managers for the offering.
The stablecoin issuer is seeking to raise $624m, offering 9,600,000 shares of Class A common stock, and the selling stockholders are offering 14,400,000 shares of Class A common stock.
Currently, the IPO price is estimated to be between $24 and $26 per share.
The IPO remains subject to market requirements, and there can be no assurance as to whether or when the offering may be completed. However, Circle has applied to list its Class A common stock on NYSE under the ticker symbol CRCL.
The IPO announcement follows Ripple’s recent proposition to purchase the fintech for around $4bn, which was declined by Circle earlier this month.
Read more about the recent trend of crypto companies looking to public markets for fundraising and Circle’s takeover decline on Capital Pioneer.
