CoinDesk owner poised for bullish NYSE debut after $1.1 billion IPO

Bullish

13/08/2025 16:37

Updates

** Shares of Bullish BLSH.N, which owns the media outlet CoinDesk, set to open well above offer price in their New York Stock Exchange debut on Wednesday

** Stock indicated to open between $70-$75 vs $37 IPO price

** At the higher end, it could notch a potential valuation of around $11 billion

** BLSH raised $1.11 billion in an upsized IPO by selling 30 million shares, above its already bumped-up marketed range

** Led by former NYSE president Tom Farley, BLSH operates an exchange that offers spot crypto trading, futures and derivatives trading

** J.P. Morgan and Jefferies were lead book-running managers of the offering

** BlackRock and Cathie Wood's Ark Investment Management had committed to buy up to $200 million worth of shares from BLSH's offering

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))