TL;DR
- Circle raised its public offering to 32 million shares and increased its price target to $27-$28 per share after strong investor demand.
- The deal could raise up to $896 million and give the company a valuation of over $6 billion in its market debut.
- The rebound in the U.S. IPO market and the growth of stablecoins are creating room for new institutional issuers and regulated projects.
Circle Internet Group raised the terms of its initial public offering after confirming strong demand from investors. The company and several of its shareholders increased both the number of shares on offer and the expected price per share, according to a filing Monday with the U.S. Securities and Exchange Commission.
Circle’s initial plan was to sell 24 million shares at a price range between $24 and $26. However, market demand led to an expanded offering of 32 million shares and a revised price range of $27 to $28. If the upper end of that range is reached, the deal could raise up to $896 million, pushing Circle’s market capitalization above $6 billion.
U.S. Market Activity Recovers
This adjustment reflects clear investor interest in companies tied to the stablecoin business, as digital asset markets regain momentum and start expanding again. Circle, the issuer of USDC, aims to use this context to establish itself in public markets after years of operating as a private firm.
It also signals a rebound in U.S. IPO activity, which had slowed in the early months of the year. Trade tensions and volatility linked to commercial disputes had reduced the number of public offerings in the country. However, in recent weeks, listings have begun to pick up. Etoro, an online trading platform, made its New York debut last month after postponing its IPO.
Circle Faces Tough Competition Ahead
Circle plans to use this market window to strengthen its financial structure and keep its ability to compete in a market where Tether holds a wide lead, though new issuers and institutional projects are starting to gain ground. The company had previously attempted to go public through a merger with a special purpose acquisition company, but the deal fell through. This direct offering marks its first formal attempt to go public via a traditional IPO.
Investor interest in this process shows that the stablecoin market will continue to attract institutional capital and create opportunities for new projects in the coming months
