Crypto Exchange Bullish has raised the size of its original public offer to $ 990 million from $ 629 million as the company seems to take advantage of a warm market for cryptic companies.
Coindesk is a subsidiary of Bullish.
According to a filing at Securities and Exchange Commission on Monday, Bullish aims to sell 30 million shares at a cost of $ 32 to $ 33 each or $ 990 million and a valuation of $ 4.8 billion at the top of the range.
In a previous filing on August 4, the company had planned to market 20.3 million shares for $ 28 to $ 31 each, or approx. $ 629 million and a valuation of $ 4.2 billion at the top of the range.
Bullish is one of many cryptic companies in the hope of taking advantage of a thriving IPO market in space as the industry begins to take advantage of a clearer legislative framework and investor interest, not to mention sharply higher prices too late for leading cryptocurrencies such as Bitcoin and Ether.
StableCOin Essuer Circle (CRCL) Was among the first to publish in June and has seen its share price Skyrocket 93% since.
In a previous filing at SEC, Bullish revealed that funds managed by BlackRock and Ark Investment Management have expressed interest in buying $ 200 million worth of shares in the company at the IPO.
The company, which would trade under the Ticker “BLSH”, also revealed that it had sent a net income estimate of $ 106 million to $ 109 million for the second quarter after reporting losses for the first quarter and fourth quarter of 2024.
