Key Takeaways
- Circle Internet Group, Inc. launched an initial public offering of 24 million shares.
- The company’s Class A common stock will be listed on the NYSE under the ticker symbol ‘CRCL.’
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Circle Internet Group, the issuer of the second-largest stablecoin USDC, is launching an initial public offering (IPO), advancing toward its planned listing on the New York Stock Exchange after rejecting reports of a possible sale to Coinbase or Ripple, the company said in a Tuesday announcement.
The IPO includes a total of 24 million shares of Class A common stock, with 9.6 million shares offered by Circle and 14.4 million shares offered by selling stockholders. The offering price is expected to be between $24.00 and $26.00 per share. Circle plans to grant its underwriters a 30-day option to purchase up to an additional 3.6 million shares to cover over-allotments.
The financial technology company and stablecoin issuer has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “CRCL.”
The latest move follows a report earlier this month suggesting that Circle was engaged in “informal” acquisition talks with Coinbase, its long-time partner in the Centre Consortium, and Ripple, a key player in stablecoins and cross-border payments.
The speculation raised questions about the future of Circle’s IPO plans.
However, Circle quickly dismissed the report, stating that the company is not for sale and remains fully committed to pursuing a public listing.
This is a developing story.
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