In an interview Thursday (Sept. 17) with French newspaper Les Echos, Nik Storonsky said the company wanted to list in the U.S. as the market there provides more liquidity and a bigger investment pool.
“It’s a larger market. It includes institutional investors, hedge funds, fund managers and a considerable number of individual investors,” Storonsky said.
“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 our shares. Therefore, yes, we prefer the United States.”
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Still, he added that the neobank is eyeing a dual listing on the London Stock Exchange and the Nasdaq. A Financial Times report on the CEO’s comments said a London listing would make Revolut, recently valued at $115 billion, one of the biggest public companies in England. At that valuation, its shares would be more than the likes of BP or Barclays.
The report also notes that Storonsky’s comments are the first time Revolut has confirmed it is considering a dual stock market listing. The executive has previously indicated Revolut would not go public before 2028.
The news comes as Revolut continues its global expansion, with the company announcing this week it had gotten a banking license in Colombia. This follows licenses the company already obtained in the United Kingdom, France, Australia, Lithuania and Mexico.
The FinTech has also been granted conditional approval from the Office of the Comptroller of the Currency for a U.S. national bank charter, received payments license in the United Arab Emirates and was awarded an organization license by the Superintendency of Banking, Insurance and AFP of Peru.
Revolut has also been dealing with the fallout from a recent cybersecurity incident, in which hackers posed as law enforcement to gain access to customer information.
The alleged hackers have since issued a ransom demand to Revolut, threatening to release customer data unless they are paid $3 million in cryptocurrency. PYMNTS wrote Wednesday (Sept. 16) that the incident highlights an emerging problem for financial institutions.
“Banks have spent years strengthening their own defenses and scrutinizing their vendors,” that report said. “The next risk perimeter may include the institutions banks are required to trust, something harder to control.”
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