Revolut Considers Dual Listing in New York and London
Fintech giant Revolut is exploring a potential dual stock market listing in both New York and London, a move that could boost the UK's financial market.
Digital banking firm Revolut is contemplating a dual stock market listing, with options including both the London Stock Exchange and the Nasdaq in New York. This marks the first time founder and chief executive Nik Storonsky has publicly discussed a dual listing.
Storonsky indicated a preference for the U.S. market, citing its larger scale and broader investor base. "We are currently planning a dual listing, on the London Stock Exchange and the Nasdaq," Storonsky said in an interview with a French newspaper. He characterized the U.S. as "a larger market" with a significant number of institutional investors, hedge funds, fund managers, and individual investors.
He contrasted this with the UK market, stating, "So we have the choice between selling in a small market with few buyers, or in a gigantic market with a huge number of buyers who will compete fiercely for shares." Despite his past criticisms of the UK stock market, Storonsky's openness to a dual listing, which includes London, represents a potential significant development for the City.
Revolut, recently valued at $115 billion (£86 billion), has previously been critical of the London stock market's ability to support high-growth tech companies. A listing in London, if it proceeds, would be seen as a considerable success for the UK market.