Bullish Expands IPO, Targets $4.8 Billion Valuation in Crypto Market Push

Bullish, a leading crypto platform, has recently expanded its initial public offering (IPO), raising the size to $990 million by offering 30 million shares priced between $32 and $33 each. This move targets a valuation of approximately $4.8 billion, up from an earlier proposal seeking a $4.2 billion valuation with fewer shares.

The IPO will be listed on the New York Stock Exchange (NYSE) under the ticker symbol 'BLSH'. Underwriters for this event include JPMorgan, Jefferies, and Citigroup, who have also been granted a 30-day option to sell an additional 4.5 million shares.

Prominent investors such as BlackRock and ARK Investment Management have shown strong interest, expressing intent to purchase up to $200 million worth of shares, signaling confidence in the crypto-focused company’s future.

Led by Tom Farley, former NYSE president, Bullish is riding a wave of renewed capital market activity in the crypto sector, following successful listings from industry peers like Circle and Galaxy Digital.

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