Crypto firm Bullish raises price range for New York IPO

(Sharecast News) - Digital asset platform Bullish has priced Wednesday's initial public offering in New York above its indicated range at $37 per share, raising well over $1bn. The CoinDesk owner, which had already raised its indicated range earlier in the week from $28-31 to $32-33 a range, said it was again upsizing the expected price range in a statement late-Tuesday.

Bullish said it was offering 30m shares at its stock market debut on Wednesday as it aimed to raise $1.11bn, valuing the company at $5.41bn.

The company is most well known for its CoinDesk brand, which operates as a media and events provider for the crypto industry, as well as running benchmarks and indices that track digital assets.

It also runs Bullish Exchange, a regulated and institutionally focused digital assets spot and derivatives exchange.

Founded in 2021, the company is run by chief executive Tom Farley, who is the former president of the New York Stock Exchange Group.