Circle Internet IPO: Stablecoin giant fetches $18 billion valuation, shares more than triple by 235% in NYSE debut

Stablecoin issuer Circle Internet’s shares more than tripled by 235 per cent in their debut on the New York Stock Exchange on Thursday, a move expected to boost an IPO market that has struggled to regain momentum. Some of its shareholders raised nearly $1.1 billion in an initial public offering that was upsized twice amid strong demand.

The New York-based company’s stock opened for trading at $69 apiece, valuing the stablecoin issuer at nearly more than $18 billion, on a fully-diluted basis.