News has obtained information indicating that Nik Storonsky, the CEO of the large fintech company, plans to sell stock in the secondary market in the coming weeks, with a potential value of hundreds or even thousands of millions of dollars.
The extent of his selling, according to city sources, will depend on the valuation that Revolut can secure from new investors and the ultimate allocation choices made by the business and its advisors, Morgan Stanley.
Although Mr. Storonsky’s actual investment amount is unknown, it would be worth several billions of dollars at the $40 billion (£31 billion) valuation that Revolut is hoping to attract.
News broke last month that Revolut had retained Morgan Stanley to handle the secondary share offering, which would be conducted at a price not to be lower than the $33 billion (£26 billion) at which the company got its initial capital in 2021.
With over 40 million clients, the fintech does not intend to use the transaction to generate additional funds, but any significant share sale will be closely monitored by the whole global fintech industry.
