‘We prefer the US’: Revolut’s Storonksy confirms plan for dual US-UK listing
Revolut founder Nik Storonsky has confirmed that the bank is exploring a dual listing in New York and London, adding that he “prefers” the US market. The chief executive of the UK’s biggest fintech said he could not afford to miss out on a US listing, because the American market offers better upsides than London, [...]
Revolut's founder Nik Storonsky has announced that the company is considering a dual listing in New York and London, expressing a preference for the US market. He believes the American market offers greater opportunities due to its larger size and presence of institutional investors, hedge funds, and individual investors. In an interview with French newspaper Les Echos, Storonsky stated that while London could be a valuable market, the US provides a wider range of potential buyers competing fiercely for shares.
This preference for the US market comes amid a broader trend of companies shifting towards the United States in order to tap into a larger pool of investors. The financial services sector has seen a number of major players, such as Wise and AstraZeneca, move their primary listings to the US. Storonsky's comments come after Revolut obtained a UK banking license after four years of regulatory hurdles, which he has criticized for its "extreme bureaucracy" and "extra cautious" approach.
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