Revolut CEO targets US primary listing for future IPO
Summary
Revolut CEO Nik Storonsky announced that he intends for the digital bank to seek a primary listing in the US if it decides to move forward with a public offering. This aligns with Revolut's strategy for a dual listing on the London Stock Exchange and Nasdaq, with a clear preference for the US market. Additionally, the company is making strides in its regulatory framework, recently obtaining preliminary approval for a US national banking license while already holding licenses in the UK and France.
Analysis
Revolut: Revolut is a London-headquartered digital bank and fintech company offering banking, payments, and cryptocurrency services primarily across Europe and other international markets. It has been actively expanding its regulatory footprint with recent banking license approvals in the UK, France, and preliminary steps toward a US national banking license. In the context of this news, its CEO has publicly confirmed plans to pursue a dual listing on the London Stock Exchange and Nasdaq for any future public offering, with a stated preference for the US market due to its deeper liquidity and investor pool. Nik Storonsky: Nik Storonsky is the founder and chief executive officer of Revolut, the digital banking platform he established in 2015. He has been outspoken on capital markets competitiveness and recently detailed the company's listing strategy in interviews. In the context of this news, Storonsky emphasized Revolut's intent to prioritize a US primary listing while considering a dual structure with London, citing the superior scale of American institutional and retail investor participation. Listing Strategy: Revolut's leadership has confirmed plans for a dual listing on the London Stock Exchange and Nasdaq for any future IPO, with a clear preference for the US market. Regulatory Expansion: The company has advanced its global banking license applications, including preliminary approval for a US national banking license alongside existing approvals in the UK and France.
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Related sources
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- https://www.cityam.com/we-prefer-the-us-revoluts-storonksy-confirms-plan-for-dual-us-uk-listing/
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