Revolut opens the door to simultaneous listing in London and New York - Cinco Días
Article excerpt
Revolut is beginning to outline what its potential stock market listing could look like. Nik Storonsky, founder and CEO of the British neobank, stated in an interview with the French newspaper Les Echos that the company is considering a simultaneous listing in London and New York, a formula that would allow the group to maintain a link with its home market without giving up the opportunities offered by the United States.The Russian entrepreneur had on several occasions criticized the limitations of the London market compared to Wall Street, questioning both the costs associated with trading shares in the United Kingdom and the lower availability of institutional capital. In his opinion, the North American market offers a much broader base of potential buyers, from large asset managers and hedge funds to individual investors. This greater liquidity could be decisive when setting the price for the IPO and ensuring sufficient demand for its shares.The option being studied would involve combining the London Stock Exchange with Nasdaq. If materialized, it would represent a significant boost for the English capital, which has been trying for years to curb the loss of major IPOs to New York. London's, and generally Europe's, ability to attract and retain technology companies has become a concern for policymakers and economists. Securing one of the largest technology groups created...
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Recently, Revolut reached a valuation of 115 billion dollars in a secondary share sale operation executed this summer.
