Revolut could set its IPO date for 2025, but recent reports suggest no decision has been made as to which stock exchange will be chosen for the launch. The financial company has posted a record profit in its results for 2023, with an increase in the customer base and rising interest rates among the key facts driving its profits.
Revolut Keeping an Open Mind on IPO
As part of the annual report, Chief Financial Officer Victor Stinga said that the solid foundations that have been built will:
Bring our financial processes in line with the standards expected from publicly listed companies.
This was Revolut´s first annual report since 2020 in which it didn’t need to ask for an extension past the September statutory deadline. BDO audited the reports and was able to provide an unqualified opinion after having said last year that it wasn’t able to verify all of the revenue generated by Revolut. That was now possible thanks to improvements in Revolut’s financial controls.
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In terms of the location and timing of the expected IPO, chair Martin Gilbert said that this event won’t happen for at least a year and that they’re keeping an open mind on which exchange to use. This follows on from reports that Revolut could be valued at over $40bn.
Previously, co-founder Nik Storonsky said that it was unlikely that they’d choose the LSE due to the regulatory requirements in the UK. He suggested that the Nasdaq exchange in New York would be the most likely destination for the Revolut IPO.
