Financial institution, Monzo, enlists banking professionals to guide them through the process of a potential £6 billion initial public offering (IPO).
Chatter: Monzo is on the verge of snagging some high-profile investment bankers to kickstart a whopping £6 billion public listing!
Spearheaded by Wall Street heavyweight Morgan Stanley, Monzo is hosting a series of investment meetings, as reported by Sky News. The digital banking giant plans to hire key investment bankers imminently to manage this blockbuster IPO, which could happen as early as next year.
The intricate details of the IPO, including location and size, remain uncertain, hinging on the market conditions in both London and New York. London tops the list of potential listing venues for Monzo's board and investors, according to the insider information provided by Sky News.
Established a decade ago, Monzo has become a British fintech darling, boasting over 10 million customers and employing around 4,000 people predominantly in London. Rumors of a potential listing have been circulating since last year. Monzo's CEO, TS Anil, previously mentioned he aspired to grow the business exponentially before considering an IPO.
In October 2024, Monzo's valuation soared to £4.5 billion following a primary and secondary share sale. Sky News hinted at a potential additional share sale, although no final decisions have been made yet.
Banking sources suggest that if the IPO proceeds, Monzo could be worth anywhere between £6 billion and £7 billion. However, no definitive valuation range has been shared thus far. Monzo has yet to comment on the matter.
- For the upcoming IPO, Monzo aims to recruit prominent investment bankers from the transport and banking sectors to manage the whopping £6 billion listing process.
- Amidst global market conditions, London stands as a top contender for Monzo's IPO venue, a decision that aligns with the company's staple presence in finance and its thriving fintech sector.
- If Monzo's IPO proceeds successfully, it could join the ranks of other major corporations that have undergone IPOs in London, such as Facebook and Google, becoming a staple in the city's finance scene.
- As rumors of a potential £6 billion IPO swirl, estimates suggest that Monzo's valuation could reach upward of £7 billion, making it one of the most valuable fintech companies in the UK.
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