Bullish, the cryptocurrency exchange that owns leading crypto media outlet CoinDesk, has significantly increased the size of its planned IPO — from $629 million to $990 million. Bloomberg, citing the company’s filing with the U.S. Securities and Exchange Commission (SEC), notes that crypto-linked businesses are counting on strong investor interest as digital assets regain momentum.
IPO Details
Bullish now plans to offer 30 million shares priced between $32 and $33 each. The earlier plan envisioned selling 20.3 million shares at a price range of $28 to $31.
According to Bloomberg’s calculations, the company’s market capitalization could reach $4.8 billion following the IPO.
Background
The exchange officially filed for its IPO in early August, though speculation about its public listing had been circulating since June.
Bullish ranks among the largest players in the global crypto market. It was launched by the team behind BlockOne, the project that conducted the largest initial coin offering (ICO) in history back in 2017, raising around $4 billion to launch the EOS token.
Primarily targeting institutional clients, Bullish made headlines in 2023 when it acquired CoinDesk from Digital Currency Group, becoming one of the few crypto ventures to own a major, established industry news platform.
Founded in May 2013, CoinDesk is one of the earliest and most reputable sources of cryptocurrency news and analysis.
Crypto IPO Momentum
An increasing number of crypto companies are preparing to go public, with Bloomberg noting that U.S. President Donald Trump has expressed support for the industry. The pace of IPO filings in the sector accelerated further after Circle, the issuer of the USD Coin (USDC) stablecoin, surpassed its own token in market capitalization — with the company’s stock price surging post-IPO.
Info link: minfin.com.ua