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Nik Storonsky suggested that a float could happen within two years (Alamy\/PA)<\/p>\nNik Storonsky told French newspaper Les Echos on Thursday that the fintech firm prefers the US for a potential initial public offering (IPO).<\/p>\n
However, he added that the Canary Wharf-based company is still looking at a dual listing on the London Stock Exchange and New York\u2019s Nasdaq index.<\/p>\n
A London listing would be a major boon for the city\u2019s stock market, following a dearth of recent listings, with many firms opting against going public or floating in other markets such as New York.<\/p>\n
A listing would be expected to make the company, which was most recently valued at 115 billion US dollars (\u00a386 billion) in a share sale, one of the UK\u2019s largest public companies and potentially surpass rival banks including Barclays and NatWest Group.<\/p>\n
Nik Storonsky suggested that a float could happen within two years (Alamy\/PA)<\/p>\n
The boss suggested in April that a float could happen in \u201ctwo years\u2019 time\u201d depending on \u201chow good the market is\u201d.<\/p>\n
The company also indicated that it is targeting further growth in the US ahead of an IPO in order to help bolster its position with potential investors in New York.<\/p>\n
He told Les Echos: \u201cIt\u2019s a larger market. It includes institutional investors, hedge funds, fund managers and a considerable number of individual investors.<\/p>\n
\u201cSo we have the choice between selling in a small market with few buyers, or in a gigantic market with a huge number of buyers who will compete fiercely for our shares. Therefore, yes, we prefer the United States.\u201d<\/p>\n
It is the first time the Russian-born entrepreneur has pointed to a potential dual listing, having said in 2024 that the London stock market \u201ccan\u2019t compete\u201d with the US.<\/p>\n","protected":false},"excerpt":{"rendered":"Nik Storonsky told French newspaper Les Echos on Thursday that the fintech firm prefers the US for a…\n","protected":false},"author":2,"featured_media":1209307,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[7757],"tags":[748,393,4884,257,16,15],"class_list":["post-1209310","post","type-post","status-publish","format-standard","has-post-thumbnail","category-london","tag-britain","tag-england","tag-great-britain","tag-london","tag-uk","tag-united-kingdom"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1209310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1209310"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1209310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1209307"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1209310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1209310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1209310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}