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Circle Upsizes US IPO to 32 Million Shares, Targets $7.2 Billion Valuation; BlackRock Eyes 10% Stake | DeepNewz Stocks

Business Bytes

Business Bytes · 2m ago

Circle Upsizes US IPO to 32 Million Shares, Targets $7.2 Billion Valuation; BlackRock Eyes 10% Stake | DeepNewz Stocks

Circle is targeting a $7.2 billion valuation by upsizing its US IPO to 32 million shares. Despite similar net incomes, comparisons with $MKR/SKY highlight the latter's more attractive financial incentives, including substantial daily buybacks and dividends. This contrasts with Circle's lack of these financial benefits, suggesting potential market reevaluation opportunities for $MKR/SKY based on their income distribution strategies.

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BlackRock slashes India's Byju's valuation by 95% to $1 bln

Reuters · 1y ago

BlackRock slashes India's Byju's valuation by 95% to $1 bln

BlackRock has reportedly reduced the value of its stake in Indian edtech startup Byju's to $1 billion from the previous $22 billion valuation. This marks another significant reduction in Byju's implied valuation by BlackRock, which owns less than 1% of the company. Earlier, Tech investor Prosus NV valued Byju's at under $3 billion. Byju's is currently facing challenges, including a notice from the Enforcement Directorate (ED) regarding alleged violations of foreign exchange laws.

Wall Street analysts bullish on Circle after blockbuster IPO, but warn on sky-high valuation - The Economic Times

Economic Times

Economic Times · 1m ago

Wall Street analysts bullish on Circle after blockbuster IPO, but warn on sky-high valuation - The Economic Times

Wall Street analysts are optimistic about Circle Internet Group after its successful IPO, despite concerns over its high valuation post a 161% share surge. Circle, a prominent blockchain infrastructure player known for USD Coin (USDC), saw its shares debut at $69, exceeding its $31 IPO pricing. Analysts like Barclays affirm Circle's digital dollar network's market leadership, while J.P. Morgan cautions about potential risks, initiating an 'underweight' rating with an $80 price target.

Astera Labs eyes valuation of up to $5.18 bln in upsized US IPO

Reuters · 1y ago

Astera Labs eyes valuation of up to $5.18 bln in upsized US IPO

Astera Labs is aiming for a valuation of up to $5.18 billion in its U.S. initial public offering (IPO). The chip firm plans to raise up to $673.2 million by selling 19.8 million shares, priced between $32 and $34 per share. Astera had originally targeted $534 million in its IPO, but increased the size of the offering due to strong demand. The listing comes as the popularity of artificial intelligence (AI) continues to rise, driving the growth of tech companies. Astera will list its shares on the Nasdaq Global Select Market under the ticker symbol "ALAB".

Investors put Yes Bank on the block; Dr Agarwals Healthcare eyes IPO

VCCircle

VCCircle · 1y ago

Investors put Yes Bank on the block; Dr Agarwals Healthcare eyes IPO

Major shareholders of Yes Bank are planning to sell up to a 51% stake, with Citigroup's India unit being engaged for the task. The bank aims for a valuation of $8-9 billion, representing a 20-25% premium. In other news, Dr Agarwals Healthcare is considering an initial public offering (IPO) to raise funds for expansion. The eye care hospital chain is looking to raise around Rs 600-700 crore through the IPO.

Circle in Talks to Sell to Coinbase or Ripple Amid $5B IPO, Bids Exceed $10B | DeepNewz VC

deepnewz

deepnewz · 2m ago

Circle in Talks to Sell to Coinbase or Ripple Amid $5B IPO, Bids Exceed $10B | DeepNewz VC

Circle is reportedly in discussions to sell to Coinbase or Ripple amid $5 billion IPO bids exceeding $10 billion. Despite the interest, skepticism exists regarding why a company would pay $5 billion for a stablecoin like Circle's, which is losing market share. Additionally, Coinbase benefits from Circle with an annual $1 billion return at a low marginal cost, raising questions about the potential acquisition's strategic value in the current financial climate.

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

VCCircle

VCCircle · 1y ago

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

Ola Electric is facing opposition from investors on its targeted valuation for its IPO. The company's founder is aiming for a valuation of up to $7 billion, but initial feedback suggests that investors believe it is too high. Meanwhile, Pine Labs is planning to raise $1 billion through an IPO.

Circle Acquires Hashnote, USYC Issuer, for $100 Million in January 2025 with $24-$26 IPO Pricing Range Backed by Goldman Sachs and JPMorgan | DeepNewz VC

deepnewz

deepnewz · 2m ago

Circle Acquires Hashnote, USYC Issuer, for $100 Million in January 2025 with $24-$26 IPO Pricing Range Backed by Goldman Sachs and JPMorgan | DeepNewz VC

Circle has acquired Hashnote, with a USYC issuer at $100 million, planning an IPO pricing in the range of $24-26 per share by January 2025. Goldman Sachs and JPMorgan are backing this listing, deploying capital for its execution.

Circle IPO soars, giving hope to more startups waiting to go public | TechCrunch

TechCrunch · 2m ago

Circle IPO soars, giving hope to more startups waiting to go public | TechCrunch

Circle, a major USDC stablecoin issuer, saw its stock soar 168% above its IPO price on its first trading day, closing at $83.23 per share. The strong performance reflects investor interest in cryptocurrencies, potentially encouraging more startups to go public. Despite initial valuation below its private market high, Circle's market cap reached $16.7 billion. This IPO success follows a prior unsuccessful attempt in 2022, offering a hopeful sign for future public listings.

GIC, BlackRock snap up Hyundai India shares in record $3.3 bn IPO

VCCircle

VCCircle · 9m ago

GIC, BlackRock snap up Hyundai India shares in record $3.3 bn IPO

Hyundai Motor India has raised $989.4m by selling shares to institutional investors, including BlackRock and Fidelity, in the country's largest IPO yet. The initial public offering, which is expected to raise $3.3bn in total, saw the Singapore government and BlackRock acquire shares worth a combined $77.3m, while Fidelity purchased shares worth $76.5m. Hyundai India will not issue new shares, with its Korean parent instead selling up to 17.5% of its stake in the unit, which would be valued at up to $19bn, when listed in Mumbai on 22 October.

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

VCCircle

VCCircle · 9m ago

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

Indian food delivery giant, Swiggy, has reduced its IPO valuation to $11.3 billion, 25% lower than its initial target of $15 billion, amid market volatility and concerns following Hyundai India's lackluster debut. BlackRock and Canada Pension Plan Investment Board (CPPIB) are among the investors set to invest in the $1.4 billion IPO. Swiggy aims to avoid a tepid response and is consulting with investors to mitigate risks associated with the global uncertainty surrounding the US presidential election.

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