Revolut Founder to Sell Part of Multibillion-Dollar Stake in $500M Share Sale
Hey FinTech Fanatic,
Nik Storonsky, the founder and CEO of Revolut, is preparing to sell a portion of his multibillion-dollar stake in the company as part of a $500 million (£391 million) share sale. This information, obtained by Sky News, indicates that Storonsky plans to offload stock valued at tens or even hundreds of millions of dollars in an upcoming secondary deal.
The final amount of Storonsky's disposal will hinge on the valuation Revolut secures from new investors, as well as the allocation decisions made by the company and its advisers, Morgan Stanley, according to sources within the financial sector.
While the exact size of Storonsky's stake remains unclear, it is estimated to be worth several billion dollars if Revolut achieves its target valuation of $40 billion (£31 billion).
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🇬🇧 The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech’s CEO, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks.
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