Revolut considers dual London and New York listing for future flotation

Revolut is considering a dual listing in London and New York for a future flotation. Chief executive Nik Storonsky identified the London Stock Exchange and Nasdaq as the possible venues in an interview with French newspaper Les Echos published on 17 September. Reuters said a Revolut spokesperson confirmed the comments. The company has not announced a completed listing plan or timetable.

The Financial Times separately reported Storonsky’s comments. Storonsky said earlier this year that a listing would not happen before 2028. Reuters described the flotation as at least a year away. Revolut has not disclosed final terms, advisers or an approved prospectus.

TWO MARKETS UNDER CONSIDERATION

A dual structure would give Revolut a listing in London, where it is headquartered, and access to New York, which Storonsky described as a bigger market in which to find investors.

The Independent said a London listing from Revolut would be a major boon for the city’s stock market after a dearth of recent floats. Reuters said any listing would be subject to market conditions.

TIMING AND TERMS REMAIN OPEN

The reports show that management is keeping both markets in consideration rather than selecting one venue. Revolut was valued at $115 billion in a secondary share sale in July, and the Financial Times reported in April that it was aiming for a $200 billion valuation in a listing.