IPO announcement, stablecoin giant Circle

## Valued at 720 billion yen

On May 28, the major stablecoin issuer Circle Internet Group announced the launch of a new initial public offering (IPO) of 24 million shares. The company plans to issue 9.6 million new shares, while existing shareholders intend to sell 14.4 million shares.

The IPO price is expected to be set in the range of $24 to $26 per share, with underwriters granted an over-allotment option of 3.6 million shares. Additionally, an application for listing on the New York Stock Exchange under the ticker "CRCL" has been submitted.

JPMorgan, Citigroup, and Goldman Sachs are acting as joint underwriters, with Barclays and Deutsche Bank also participating as underwriters. The SEC registration statement has been submitted but has not yet been activated.

The company has recently been reported to be receiving acquisition proposals from multiple companies. Long-time partner Coinbase and competitor Ripple have shown interest, and it was reported that in April, Ripple proposed an acquisition in the range of $4 to $5 billion.

Circle is reportedly seeking a company valuation of at least $5 billion (720 billion yen) and has rejected Ripple's proposal as "too low."