Stablecoin issuer Circle upsizes IPO to over $1 billion

Stablecoin issuer Circle Internet Group, Inc. has again boosted its initial public offering to $1.05 billion, pricing its shares above its previous marketed range.

The USDC (USDC) stablecoin manager said on June 4 that it will now to offer 34 million shares at a price of $31 each when it debuts on the New York Stock Exchange on June 5.

Previously, Circle was offering 32 million shares at a range of $27 to $28 per share, up from its first advertised offering of 24 million shares priced between $24 and $26.

The latest IPO pricing gives Circle a valuation of $6.9 billion based on the outstanding shares listed in an earlier regulatory filing.

Asset investment giant BlackRock has reportedly flagged plans to snap up a minimum 10% stake in the stablecoin giant upon its public debut.

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This is a developing story, and further information will be added as it becomes available.