Wall Street’s IPO engine roared back to life Monday as fintech darling Chime Financial Inc. kicked off plans for an $800 million IPO, signaling a bullish revival in public listings. At the same time, stablecoin issuer Circle Internet Financial Inc. dramatically increased its IPO target to $880 million, riding a wave of investor enthusiasm that’s returned after a prolonged market chill.
Both companies’ offerings come amid a broader reawakening of IPO ambitions, just as geopolitical turbulence begins to recede and investors rediscover their appetite for disruptive tech plays.
Chime’s Breakout Moment: IPO to Test $9.1B Valuation
San Francisco-based Chime, a digital banking disruptor, has filed with the SEC to sell 32 million Class A shares, with prices ranging from $24 to $26. That would peg the company’s valuation at approximately $9.1 billion—a figure that underscores how much heat fintech still carries.
Chime plans to directly offer 25.9 million shares, while existing shareholders will offload 6.1 million, according to its registration. Proceeds will power expansion, as the startup looks to scale its suite of banking services, which include no-fee checking, direct deposits, and credit-building tools—products designed for consumers left behind by traditional banks.
“This IPO is more than a capital raise,” one analyst noted. “It’s a referendum on the unbanked and underbanked market—and Chime is making its case to lead that revolution.”
The offering is expected to price the week of June 9, with Wilson Sonsini Goodrich & Rosati PC and Wachtell Lipton Rosen & Katz advising Chime. Morgan Stanley, Goldman Sachs, and J.P. Morgan are lead underwriters. Chime will trade under the Nasdaq ticker symbol CHYM.
