Core Viewpoint - Circle Internet Group has successfully expanded its IPO to raise nearly $1.1 billion, indicating growing market recognition for stablecoin issuers [1][2] Group 1: IPO Details - Circle priced its IPO at $31 per share, selling 34 million shares, leading to a market capitalization of $6.9 billion, and a fully diluted valuation of approximately $8.1 billion [1] - The IPO is underwritten by major banks including JPMorgan, Citigroup, and Goldman Sachs, with shares expected to begin trading on the NYSE under the ticker CRCL [1] - The IPO coincides with ongoing legislative discussions in the U.S. Congress regarding the regulation of stablecoins, potentially enhancing their legitimacy [1] Group 2: Market Position and Demand - As of March 31, Circle's USDC stablecoin held about 29% of the market share, with a circulating supply of approximately $61 billion as of May 29 [2] - The IPO saw strong demand, with subscriptions exceeding available shares by 25 times, prompting an increase in the offering size from an initial plan of 24 million shares [2] - Notable investors include ARK Investment Management, which intends to purchase up to $150 million in shares, and BlackRock, which plans to acquire about 10% of the IPO [2] Group 3: Historical Context - Circle was valued at $7.7 billion after a funding round in 2022 and had previously aimed for a valuation of $9 billion through a merger with a SPAC, which was later abandoned [3]
11亿美元IPO，Circle今夜上市，能否引爆稳定币新周期？