Circle CEO Jeremy Allaire announced the company’s public debut on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. The stock initially traded at $69 per share, then rose to $91,5.
The IPO comes 12 years after Allaire co-founded Circle with Sean Neville. Allaire says their goal was to change the global economic system by “reimagining and rebuilding it from the ground up on the internet.”
Taking our company public is an important and significant milestone, the world is ready to begin modernization and transition to an Internet-based financial system, he noted.
This is not just a moment for each of us personally, I believe this is an important moment in the future development of our global economic system as it inevitably merges with the internet, added Jeremy Allaire.
Shortly after the IPO announcement, the company increased its volume from 24 million shares at a planned price of $24-$26 to 34 million shares at $31 per share. The market capitalization after the placement was $6,1 billion. The largest buyers of the shares were investment companies BlackRock and ARK Invest.
