Revolut Plans Dual Listing in London and New York

Revolut is exploring a dual stock market listing in London and New York, with founder and chief executive Nik Storonsky expressing a preference for the United States due to its larger investor base. In an interview with French newspaper Les Echos, Storonsky confirmed that the fintech firm is planning to list on both the London Stock Exchange and Nasdaq, marking a shift from his previous criticism of the UK market. Storonsky highlighted the US market's advantages, stating, "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 our shares. Therefore, yes, we prefer the United States." This marks the first time he has indicated a dual listing, having previously argued that London could not compete with the US, citing factors like stamp duty and lower liquidity. Revolut was valued at £115 billion in a share sale in July, and a listing at that level would make it one of the UK's largest public companies, potentially surpassing established banks like Barclays and NatWest. However, Storonsky noted that timing remains uncertain and subject to market conditions.