One of Europe’s most valuable startups, revolutened, exploring a double list in London and New York for his blockbuster initial public offer (IPO), reported Sunday Times, referring to a “Senior City Source.”
If it were to continue, the move could mark the first time that a company shows at the same time in New York and joins London’s Benchmark FTSE 100, which potentially gives Britain’s financial center a much needed voice of trust, the newspaper said.
It is said that the London-based company is valued at around $ 75 billion and has collected 65 million users globally, including 12 million in the UK, it began as a travel-focused prepaid card and has since expanded to shares and crypto trading, hotel bookings and business accounts.
Data from Thetie shows that the company has collected $ 3.77 billion since the launch. The company was allegedly looking to collect $ 1 billion for a valuation of $ 65 billion earlier this year.
CEO NIK Storonsky has been pushing for a stock exchange listing to allow early investors to quit and had previously dismissed London as a place due to the UK’s 0.5% tax, known as stamp duty, in stock trading.
Storonky’s attitude seems to soften. New rules that were introduced this month allow large companies to enter FTSE 100 within just five days of listing, a change that could lock greater demand from index tracking agents and increase liquidity.
Storonsky called Britain Revolut’s “Homeland” at the opening of his new headquarters in London last week, an event also participated by Chancellor Rachel Reeves and revenge chairman Martin Gilbert, Sunday Times said.
The company did not comment on the newspaper.
