LONDON : OakNorth is leaning towards the United States for a prospective stock market listing, as the British bank considers ways to grow in the world's largest economy, including securing a local U.S. financial licence, chief executive Rishi Khosla told Reuters.
Khosla downplayed that timeline for an initial public offering , saying instead that the company will look to float"sometime in the future" but is in no rush to do so. The comments mark a significant shift from previous interviews, in which Khosla had indicated a preference for London as a listing venue.
OakNorth declined to comment on the type of licence it could seek. Foreign banks can operate in the U.S. through either state or federal banking charters, which they can apply for or obtain by acquiring a local credit institution. That leaves it in a strong position to buy another bank in Britain, possibly snapping up one of its digital-only neobanks, Khosla said, without being more specific.