Circle, the US company that issues the stablecoin USD Coin (USDC), whose value is backed by the US dollar, submitted a draft registration statement for an IPO (initial public offering) to the SEC (US Securities and Exchange Commission) on the 11th. This is the first time that Circle has submitted documents for an IPO.
The number of shares to be offered and the public offering price have not yet been determined. The documents submitted this time are confidential, and details have not been disclosed.
Circle has long been known to have a positive attitude toward IPOs. In 2021, it had planned to merge with Concord Acquisition Corp, a special purpose acquisition company, and conduct an IPO, but this plan fell through at the end of 2022. At the time of the dissolution of this plan, the company's valuation was $9 billion (approximately 1.3 trillion yen).
Circle once canceled its plans, but it was revealed in November last year that it was considering an IPO again. Sources told Bloomberg that the company is aiming for an IPO in early 2024.
Circle CEO Jeremy Allaire said, "Being a public company in the U.S. market is part of our long-standing strategic aspirations."
Reference:Announcement
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