A dual listing in London and New York is on the cards for Revolut, with the UK-based fintech's valuation of £55 billion potentially propelling it straight into the top quarter of the FTSE 100.
While founder Nik Storonsky has previously seemed to rule out a float for the London-based company in its home city, The Times reported that a transatlantic listing was being “widely discussed” in City circles.
The Square Mile has endured an IPO drought for several years, so such a move would be a strong endorsement of recent changes to UK listing rules.
Storonsky last year acknowledged that an IPO would enable an exit for major shareholders, which include Japan's SoftBank, Tiger Global Management and Abu Dhabi's Mubadala sovereign wealth fund.
He said previously that it would "just not rational" to list in London, as the US has much greater liquidity and UK has stamp duty at 0.5%.
The Times story cited a Revolut source that revealed Storonsky had also said: “If I get a better product in the UK, I will list in the UK.”
Efforts have been made by the LSE, government and financial regulators to try and improve the attractiveness of a London listing.
Changes introduced this month allow large companies to be fast-tracked onto the FTSE 100 in just five days, with one new arrival already making use of such tweaks, allowing index-tracking funds to buy into IPOs more easily.
The company, which opened new headquarters in Canary Wharf last week, is in the process of launching its UK bank after receiving authorisation from the Bank of England last year.
A share sale that will give it a $75 billion valuation is also reported to be planned, up from $45 billion last year.