ChainCatcher reported that according to FinanceFeeds, Nikolay Storonsky, CEO of digital bank Revolut, will cash out part of his multi-billion dollar stake in the company through a $500 million stock sale.
Last month, Revolut was working with bankers to sell shares, including those held by employees, valuing the company at more than $40 billion. The size of Storonsky’s stake in the company remains unclear, and the size of any sale will depend on the valuation Revolut receives from new investors and the company’s final distribution decision.
The company plans to go public, but interim Chief Financial Officer Victor Stinga declined to comment earlier this month on any IPO timeline.