British-Ukrainian FinTech company Revolut is considering a dual listing on the New York and London stock exchanges. Previously, Revolut founder Nick Storonsky had not shown much interest in entering the London Stock Exchange.
British-Ukrainian FinTech company Revolut is considering a dual listing on the New York and London stock exchanges. Previously, Revolut founder Nick Storonsky had not shown much interest in entering the London Stock Exchange.
However, according to sources in The Times, the idea of a dual listing is now «widely discussed» in financial circles, and this may indicate a change in Storonsky’s position.
If such a deal goes through, it would be historic, as it would be the first time a company would simultaneously list on the New York Stock Exchange and be included in the FTSE 100 index in London. With a valuation of around £55 billion, it would become one of the 15 most valuable companies in London.
Revolut has 65 million customers, 12 million of whom live in the UK.
Nick Storonsky previously said that he expected Revolut to hold an IPO to allow its major shareholders to exit the company, but noted that going public in London would not be «rational» due to the 0.5 percent fee on stock trading.
«If I get a better product from the UK, I will go public in the UK,» the Revolut founder allegedly said, according to an insider.
Recall that earlier the company began a secondary sale of its shares, which valued it at $75 billion. Company employees can purchase shares at $1,381.06 per share.
