Cryptocurrency Exchange Gemini increased the price range offered for its first public public call (IPO), aimed at an assessment of up to $ 3.08 billion, Reuters reported. This decision reflects a strong interest in investors for companies focused on crypto.
The company, supported by the Winklevoss Twins, plans to sell 16.67 million shares at a price between 24 and $ 26 each, up its previous range from $ 17 to $ 19 per share. Thanks to this IPO, Gemini hopes to collect about $ 433.3 million.
In addition, the NASDAQ agreed to buy a value of $ 50 million in shares during a private investment at the time of the IPO, the report mentioned. Gemini is expected to finalize the course of his action on Thursday and register under the “Gemi” ticker. Goldman Sachs and Citigroup direct the offer.
The IPO intervenes that the American markets are recovered, helped by lower interest rates and the concerns of relaxation concerning prices and inflation.
Cryptographic companies have drawn the attention of investors, thanks to regulatory clarity, the funds negotiated on the stock market (ETF) and institutional adoption. Gemini will become the third exchange of crypto listed on the stock market in the United States, following Coinbase, which is now part of the S&P 500, and Haussier, whose shares have more than doubled at their beginnings.
Founded by Cameron and Tyler Winklevoss, Gemini became famous while twins settled a 2008 legal dispute with Facebook founder, Mark Zuckerberg. The exchange continues to expand its presence on the cryptography market as the interest in digital assets increases.
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