🔥 Britain Vies for Revolut's IPO
posted 16 Aug 2024
The UK government is set to convince financial firm Revolut, which also offers cryptocurrency services, to conduct its initial public offering (IPO) in London rather than New York. City Minister Tulip Siddiq plans to meet with company representatives this fall to discuss the proposal.
Preliminary data suggests that Revolut is currently valued at around $45 billion, and the company is leaning towards conducting its IPO on an American exchange. This preference persists despite the firm's recent acquisition of a UK banking license, which expands its lending capacity.
The London stock exchange is much less liquid so I just don’t see the point,stated Revolut co-founder Nikolay Storonsky.
It’s worth noting that before the elections, where the Labour Party won, Siddiq pledged to amend financial regulations and eliminate obstacles that impede the country's economic growth. However, it seems that the London Stock Exchange's issues are less about regulation and more about insufficient liquidity, which repels companies.
More breaking news
