The Haussiers digital asset exchange operator increased the target assessment of its first public call to public by almost 60% to potentially $ 990 million, a decision that could reflect the growing appetite of investors in the middle of the revival renewed in the actions related to the crypto.
Bullish now plans to sell 30 million shares at $ 32 at $ 33 each, Bloomberg reported on Monday, citing recent regulatory documents with the Securities and Exchange Commission (SEC). It is almost 60% higher than the higher range of its previous goal.
If the IPO meets expectations, Bulnish would make its debut with a market capitalization of approximately $ 4.8 billion, against the target of $ 4.2 billion at the beginning of August.
The IPO is led by the heavy goods vehicles of Wall Street JPMorgan, Jefferies and Citigroup. Bullish plans to identify himself under the symbol of the “BLSH” ticker, according to the file.
Several institutional investors, including blackrock and Ark Investment Management subsidiaries, have already aroused interest in the offer.
In its file, the company highlighted the increase in activity on digital asset markets and increasing adoption by traditional financial institutions such as Blackrock, Fidelity, Jpmorgan and Goldman Sachs as key engines of its decision to make public.
In addition to operating a platform of digital assets of institutional quality, Bullish extended to Crypto Media in November 2023, acquiring Coindesk of Digital Currency Group in an agreement of $ 72.6 million.
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Institutional appetite for digital assets has new heights
Housing companies and other cryptocurrency on cryptography wish to capitalize on a strong market feeling, collecting funds to fuel growth as institutional interest in digital assets accelerates. They follow in the footsteps of the Circle of Stablecoin issuers, which finished this year a successful IPO that has raised more than a billion dollars.
Since its inception, Circle’s market capitalization has climbed around $ 41 billion, the price of its share up around 140%.
Beyond the offers of actions related to the crypto, the institutional interest in digital assets is accelerating in other areas. In recent months, the entries in the funds negotiated in exchange for Bitcoin (BTC) and Ether (ETH) have increased, more public enterprises have added digital assets to their business treasury bills, and university allocations and retirement funds have also sought an exposure to the asset class.
According to Bitbo Data, ETFs, as well as public and private companies, collectively hold more than 13.5% of the total Bitcoin supply.
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