Finance
What to know:
- Revolut, that charming London-based fintech company with 65 million users (who knew, right?), is considering a dual listing in both London and New York for its grand IPO debut, as reported by the Sunday Times.
- If this delightful plan goes ahead, it could very well be the first company to tick both boxes: listing in New York and joining the FTSE 100 Index. Who knew London could be so fancy?
- New rules are at play, making it easier for large companies to enter the FTSE 100. Apparently, this could unlock all sorts of magical demand from index-tracking funds. How thrilling!
Ah, Revolut-one of Europe’s most valuable startups-is considering this grand gesture of dual listing in London and New York for its IPO, according to a source in the know (who may or may not have been sipping tea at the time). If it goes through, this could be quite the spectacle. Not only would it be the first to do such a thing, but it might also send a rather confident message to London’s financial center. Quite the vote of confidence, wouldn’t you say? 😏
The London-based startup is said to be valued at a staggering $75 billion (yes, billion, not million-let’s not get confused), with a vast 65 million users scattered across the globe, including 12 million in the quaint U.K. It all began with a humble travel-focused prepaid card. But now? Revolut has blossomed into stock trading, crypto, hotel bookings, and business accounts. What a glow-up! ✨
Now, let’s talk figures. Data from TheTie tells us that Revolut has managed to raise a tidy sum of $3.77 billion since its inception. How lovely! Earlier this year, they were looking to raise $1 billion at a $65 billion valuation. Quite the ambitious endeavor, don’t you think? 💸
CEO Nik Storonsky, ever the visionary, is keen on an IPO to give early investors a chance to exit, and up until recently, he had dismissed London due to that pesky 0.5% stamp duty tax on shares. Oh, the drama! But fear not, dear reader, for it appears his stance may be shifting. It seems new rules have arrived, allowing large firms to slip into the FTSE 100 within just five days of listing. Oh, the joys of bureaucracy! This could possibly unlock demand from those ever-so-elusive index-tracking funds, all while boosting liquidity. 💧
In a rather heartwarming turn of events, Storonsky recently referred to the U.K. as Revolut’s “home country” during the opening of their new headquarters in London. Ah, a bit of patriotism, how refreshing! The event was graced by Chancellor Rachel Reeves and Revolut Chairman Martin Gilbert. Truly, a moment for the history books.
Alas, Revolut declined to comment for the article. Perhaps they were too busy counting all their shiny new rules and future billions. Oh, the mystery! 🤫
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2025-09-29 13:49