The digital bank Chime Financial will test the market's renewed appetite for initial public offerings on Thursday. The company priced its stock sale of 32 million shares on Wednesday night at $27, slightly above its proposed range of $24 to $26. Chime would have a market valuation of $9.8 billion at a price of $27.

The company is selling just under 26 million shares in the offering while other existing shareholders are selling a little more than six million. Chime will raise just under $700 million from the sale and the other shareholders are raising about $165 million for combined proceeds of $864 million.

On a fully diluted basis, which includes shares from options as well as stock that underwriters might buy, Chime would be valued at $11.6 billion.

That is lower than the $25 billion valuation that Chime was worth based on its last round of private financing. But the stock could surge once it begins trading on the Nasdaq Thursday with the ticker symbol of CHYM.

Chime appears to be the next hot fintech IPO, following last week's offering by the stablecoin company Circle internet Group. That stock has surged nearly 280% from its debut price.

Demand was strong for Circle and other new offerings, such as defense and space infrastructure firm Voyager Technologies, which priced its IPO well ahead of its original range. Voyager stock gained more than 80% on Wednesday.

That is a positive sign for Chime's first day.

Chime works with two banks backed by the Federal Deposit Insurance Corp. to offer customers online checking and savings accounts, as well as other financial products.

The company, which is popular with young consumers, is growing rapidly thanks to offerings such as MyPay, which lets customers access up to $500 of their paycheck early. Another winner is SpotMe, an overdraft protection service. Many of Chime's products have low or no fees.

Chime generates much of its revenue from interchange fees paid by card networks like Visa when customers use Chime-branded debit or credit cards. Chime's sales rose more than 30% in 2024 and were up another 32% in the first quarter of 2025. The company posted a loss of $25 million last year, but that was less than what Chime lost in 2023. The company also was profitable in the first quarter of 2025.

Investors will be looking for signs that Chime can build on that first- quarter profit. A positive sign is that demand for digital banking is clearly not going away.

"These companies are solving a real problem. And they are now established, big businesses with a much better product," said Ryan Falvey, managing partner with Restive Ventures, an investor in the mobile banking company Dave. "The traditional financial services industry does not serve a lot of consumers well."

Wall Street seems to agree. Shares of Dave have soared 167% this year and more than 500% over the past 12 months.