Stablecoin issuer Circle has formally announced its listing plans on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. The initial public offering (IPO) intends to float 32 million shares within a price range of $27 to $28, potentially raising up to $896 million. Circle's target valuation has been revised upwards, from $5.65 billion to $7.2 billion. The company primarily issues USDC stablecoins and invests the proceeds in US Treasuries to generate returns, with a projected interest income of $1.6 billion by 2024.

Prior to the IPO, Jeremy Allaire held a 77.1% stake in Class B shares, while IDG Capital held 12.6% of Class A shares. Following the IPO, the shareholding percentages of all shareholders will undergo minor adjustments. It's worth noting that Circle previously attempted a listing through a special purpose acquisition company (SPAC) but was unsuccessful. This formal share offering has garnered significant market attention.