Revolut launches 10% share buyback from investors: Bloomberg

The news: Revolut has debuted a tender offer in recent weeks, allowing it to ultimately repurchase as much as 10% of its shares from eligible investors, according to sources cited by Bloomberg.

The numbers: The move comes after the London-based fintech launched a secondary share sale that pushed its valuation up by two-thirds to USD75 billion ($114.5 billion) on Monday. The sale priced each share at USD1,381.06, Bloomberg reported, citing a staff memo, and allowed employees to sell up to 20% of their stakes to new and existing investors.

The context: The transactions indicate the fintech’s intention to remain private for longer while maintaining control over its shareholder registry. Bloomberg reports that Revolut has been in talks with firms including Greenoaks Capital about raising new funds.

The transactions each value the company differently, the outlet reports. Where the secondary sale allows employees to get USD1,381.06 per share, the buyback saw Revolut offer investors the chance to cash out at the USD45 billion valuation it received from backers last year, or USD865.42 per share, documents seen by Bloomberg show.