(Bloomberg) -- Revolut Ltd.’s Chief Executive Officer Nik Storonsky sold about $250 million worth of his stake in the company during a secondary share sale that valued the company at $45 billion last month.
Storonsky’s shares comprised between 40% and 60% of the stock that was sold in the roughly $500 million transaction, according to a person familiar with the matter. Still, the transaction also allowed the company to give several thousand other employees liquidity for their stakes, the person said, asking not to be identified discussing non-public information.
The details were first reported by Sky News. A spokesman for Revolut declined to comment.
The share sale allowed the company to offer more shares to new and existing investors and the biggest buyers of the shares were a trio of US-based investors Coatue, D1 Capital Partners and Tiger Global, according to a statement.
Morgan Stanley served as sole placement agent on the deal. The new valuation is up from a $33 billion price tag that Revolut garnered in 2021.
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