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Bullish will log in to the New York Stock Exchange with a target valuation of $4.82 billion.
On August 13, 2023, a certain encryption trading platform Bullish will be listed on the New York Stock Exchange, with the stock code BLSH. The company stated in the regulatory documents submitted on August 4 that it will sell 20.3 million shares at a price of $28 to $31 per share, for a total of up to $629.3 million. In addition, the underwriters have a 30-day period from the date of the prospectus release to purchase an additional 3.045 million shares.
On August 11, Bullish expanded its initial public offering (IPO) size, now targeting a valuation of up to $4.82 billion, a significant increase from last week's target of $4.2 billion. The new plan sells 30 million shares at a price of $32 to $33 per share. At the highest price point, Bullish could raise approximately $990 million.
Bullish was launched by a blockchain company in 2020, and BlackRock and Cathie Wood's ARK have expressed plans to purchase $200 million in shares. In terms of assets, Bullish noted in its filing that the company currently holds over $3 billion in liquid assets, including: 24,000 BTC, 12,600 ETH, and $418 million in cash and stablecoins. The company operates a digital asset trading platform and owns the well-known encryption media CoinDesk.