New stocks continue to be hot! The American "poor man's Alipay" Chime is priced at $27, above the upper end of the range

Chime, dubbed the "American version of Alipay for the poor," has made a strong entrance into the capital markets with pricing that exceeds market expectations.

On June 11 local time, American fintech company Chime announced its initial public offering (IPO) pricing at $27 per share. This price is above the previously set guidance range of $24 to $26. Through this issuance, Chime successfully raised $864 million, bringing its valuation to approximately $11.6 billion on a fully diluted basis. The company's stock will begin trading on the Nasdaq Global Select Market on June 12, under the ticker symbol "CHYM."

Chime's final pricing reflects strong demand from investors. This $864 million financing marks one of the largest IPOs in the U.S. fintech sector in recent times. The main underwriters are Morgan Stanley, Goldman Sachs, and JP Morgan.

The enthusiasm in the U.S. IPO market has been reignited, with several new stocks performing exceptionally well. The "first stock of stablecoins," Circle, saw its market capitalization soar to $22 billion upon listing, while Voyager's stock price doubled on its first day, rising by as much as 116.1%.

American "Alipay for the Poor + Huabei"

An article from Wall Street Journal mentions that Chime was founded in 2013 and is headquartered in San Francisco, with its core users being Americans with annual incomes below $100,000. By partnering with Bancorp Bank and Stride Bank, Chime has launched no-fee accounts and features like early paycheck access (saving 4-5 business days), addressing urgent needs for low-income groups.

As of March 2025, Chime has 8.6 million active members, a 23% increase in user base compared to 2024, with 67% of members using it as their primary account, making it the "Alipay" for low-income Americans. Its prospectus reveals that in the first quarter of 2024, users conducted an average of 54 transactions per month, with each active member contributing an average revenue of $251.

Additionally, starting in 2023, Chime launched the MyPay small loan product, allowing users to "consume in advance," similar to the "Huabei" model, with loan services contributing 12% of its first-quarter revenue.

Most of the company's revenue comes from interchange fees. When users spend using Chime debit or credit cards, merchants must pay transaction fees to payment networks like Visa, from which Chime receives a share.

U.S. IPO Market Reignited: Voyager Doubles on First Day, Circle's Market Cap Soars

Chime's listing was not without challenges. According to Reuters, the company originally planned to launch its IPO earlier but had to postpone its listing plans due to market turmoil caused by the Trump administration's tariff policies. This successful entry into the capital markets follows the strong market debut of stablecoin leader Circle earlier this month, injecting new momentum into the U.S. IPO marketCircle officially went public on June 5, with its stock rising nearly 170% on the first day of trading, far exceeding the previously set IPO price of $31 per share. According to the number of Class A and Class B common shares listed in the prospectus, the company's market capitalization has approached $22 billion, with a price-to-earnings ratio soaring to an astonishing 125 times or more.

Voyager's IPO performance was also outstanding. The company's stock opened at $67 on the New York Stock Exchange at 1:10 PM on Wednesday, up 116.1% from the IPO price of $31, and closed at $56.48, a gain of 82.2%.

Voyager raised $382.8 million by selling 12.35 million shares, with the IPO price of $31 exceeding the expected pricing range of $26 to $29. The Denver-based company counts NASA as its largest customer and has formed a joint venture with Airbus, Mitsubishi, and MDA Space to build the Starlab commercial space station.

The recent recovery momentum in the IPO market is attracting more companies to restart their listing plans. Reports analyze that with the traditional summer market slowdown approaching, June is becoming a critical window for listings, as companies seek to take advantage of the currently relatively stable market conditions. Chime's pricing performance will serve as an important reference for subsequent companies planning to go public