Circle IPO Is Said to Be Likely to Price Above Marketed Range

Circle Internet Group Inc.’s initial public offering is likely to price above the marketed range, after fielding orders for more than 25 times the number of shares available in the upsized deal, according to people familiar with the matter.

The stablecoin issuer and some of its backers would raise $896 million in the offering at the top of the price range of $27 to $28 per share, based on figures in its latest US Securities and Exchange Commission filing. The IPO is expected to price on Wednesday evening New York time, the people said, asking not to be identified as the information isn’t public.