The company started the roadshow for its initial public offering (IPO), according to a Monday (Aug. 4) press release.

Bullish is targeting a valuation of up to $4.23 billion, according to its filing with the Securities and Exchange Commission. The company is offering 20.3 million ordinary shares and plans to grant the underwriters a 30-day option to purchase up to 3,045,000 additional ordinary shares, “at the initial public offering price, less underwriting discounts and commissions.”

The IPO price is expected to be between $28 and $31 per ordinary share, subject to market conditions, per the press release. The company has…