Circle's IPO financing amount reached $1.1 billion, with the stock issuance price higher than market expectations.

Gate News bot message, stablecoin issuer Circle Internet Group conducted an IPO on Wednesday that exceeded fundraising expectations.

According to informed sources, Circle and its supporters (including the company's CEO Jeremy Allaire) sold 34 million shares at a price of about $31 per share, raising approximately $1.1 billion. As a result, the company's market capitalization could reach $6.9 billion, and the FDV could reach $8.1 billion.

Just two days ago, Circle attempted to sell 32 million shares at a price of about $27 to $28 per share to raise $896 million at a valuation of $7.2 billion, higher than the initially expected target of $600 million (valuation of $5 billion).

Source: The Block

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