July 7 (Reuters) – British fintech company Revolut’s CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale, Sky News reported on Sunday.
The Financial Times reported last month that the digital finance app is working with bankers on the share sale, including shares held by employees, which could value it at more than $40 billion.
The size of Storonsky’s stake in the company is unclear, the report added, and the scale of any disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company.
Source: REUTER
