Revolut plans $75B dual London New York IPO entering FTSE 100

Fintech giant Revolut is considering a historic dual listing in both London and New York, potentially valuing the company at around $75 billion (£55 billion) and placing it among the top 15 firms on the London Stock Exchange's FTSE 100 index. This move signals a shift in founder Nik Storonsky's stance, who had previously favored a U.S. listing due to London's 0.5% stamp duty on share trades but has shown openness to a UK listing if improved listing conditions are offered. Recent regulatory reforms in the UK, including the ability to fast-track large companies onto the FTSE 100 within five days, have enhanced London's attractiveness for IPOs and may have influenced Revolut's reconsideration. Storonsky emphasized the UK's importance as "our home country" during the opening of Revolut's new Canary Wharf headquarters, where Chancellor Rachel Reeves highlighted efforts to make Britain the "best place to do business." A dual listing would be a significant boost to London's capital markets, which have experienced an IPO slowdown and a trend of startups opting to list abroad. If completed, Revolut would become the first company to simultaneously join the FTSE 100 while listing in New York, marking a landmark transatlantic financial event.