Bullish, a digital asset exchange operator, has increased the target valuation for its initial public offering by nearly 60%, aiming to raise up to $990 million.
Increase in IPO Target Valuation
Bullish plans to sell 30 million shares at a price of $32 to $33 each. This is significantly higher than the upper limit of its previous target.
Investor Interest
The IPO is being led by major financial institutions such as JPMorgan, Jefferies, and Citigroup. Bullish plans to list under the ticker symbol 'BLSH.' Several institutional investors, including subsidiaries of BlackRock and ARK Investment Management, have already shown interest in the offering.
Rising Interest in Digital Assets
In its filing, the company pointed to increasing activity in digital asset markets and the growing adoption of these technologies by traditional financial institutions as key factors in its decision to go public.
The increase in Bullish's IPO target valuation reflects growing investor interest in digital assets and cryptocurrency markets amid an active surge in institutional investments.
