According to Odaily, digital bank Revolut is planning a secondary stock issue worth $500 million. The existing shareholders, including employees, are expected to realize partial profits with an anticipated valuation of over $40 billion. This plan is exclusively for current Revolut employees, with former employees not permitted to reduce their shares.
Revolut's CEO, Nikolay Storonsky, reportedly plans to cash in tens or even hundreds of millions of dollars, with other board members also considering participation. The last time Revolut issued additional shares was in 2021, when the company allowed existing employees to sell up to 20% of their shares, with total sales exceeding $100 million.
In addition, the company is still striving to obtain a UK banking license. The current year is 2024, and the company's efforts to secure a banking license are ongoing.
