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Investing.com -- The IPO for stablecoin leader Circle Internet Group Inc (NYSE:CRCL) surged during its NYSE debut on Thursday. Shares opened at $69 per share after pricing 34,000,000 shares at $31 per share. Shares have continued higher to $85 per share, up 174%.
Circle offered 14,800,000 shares in the IPO, while selling stockholders offered an additional 19,200,000 shares.
The company and shareholders raised over $1.05 billion in the offering.
Based on the latest price, the company is valued at over $17.5 billion.
J.P. Morgan, Citigroup, and Goldman Sachs & Co (NYSE:GS). LLC acted as joint lead active bookrunners for the offering.
Circle is a global fintech company that helps businesses use digital currencies and blockchains for payments and financial applications. It operates the world’s largest stablecoin network, issuing USDC and EURC through regulated affiliates, and offers tools for integrating stablecoins into products and operations.
In 2024, Circle reported revenue, net income, and Adjusted EBITDA of $1.7 billion, $155.7 million, and $284.9 million, respectively. For the first quarter of 2025, revenue, net income, and Adjusted EBITDA were $578.6 million, $64.8 million, and $122.4 million, respectively.