Tuesday, 02 January 2024 12:17 GMT

Revolut To Buy Back Ex-Staff Shares


(MENAFN- AzerNews) by Alimat Aliyeva

Revolut Group Holdings Ltd. has offered to buy back shares from former employees at a 30% discount to its $75 billion valuation, pricing each share at $966.74, Azernews reports, citing foreign media.

Those who accept the offer would effectively be cashing out at a valuation of $52.5 billion. Even with the discount, former staff could stand to earn what one source close to the company described as“significant sums, potentially running into the millions,” according to the report.

“We received interest from a number of former employees looking to sell shares, so we extended the buyback program we started earlier this year to accommodate those who wish to participate,” Revolut said.

Industry analysts note that this move reflects both Revolut's strong cash position and its desire to maintain goodwill with former employees.

It also highlights the company's efforts to manage shareholder liquidity amid high valuations and a fluctuating fintech market. Some observers suggest that such buybacks can serve as a signal of confidence in the company's long-term prospects, while also providing an attractive exit opportunity for early employees who helped build the business.

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AzerNews

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