(Reuters) – Britain’s Starling Bank is preparing a secondary share sale that could value the digital lender at up to 4 billion pounds ($5.42 billion), the Financial Times reported on Wednesday, citing people familiar with the matter.
The company is said to have approached investment banks, including Morgan Stanley and Rothschild, to run the sale process.
Both Starling Bank and Morgan Stanley declined to respond to Reuters’ requests for comment.
Starling, founded in 2017, is considering a listing in New York as part of its expansion plans in the United States, a media report said in July.
The bank recorded 714 million pounds in revenue and 223 million pounds in pre-tax profit for the year ended 31 March, its annual report showed.
($1 = 0.7386 pounds)
(Reporting by DhanushVignesh Babu and Unnamalai L in Bengaluru; Editing by Shinjini Ganguli)
