RIT Capital Partners set for portfolio boost as two private holdings line up IPO and tender offer

WeBull and Stripe

Two private companies RIT Capital Partners has exposure to have either revealed plans to list, or have been subject to media reports about a tender offer at a higher valuation.

Trading platform WeBull has agreed to list on the Nasdaq through a merger with special acquisition company SK Growth Opportunities, valuing the combined business at $7.3bn. The firm is expected to IPO in the second half of the year. RIT invested £50m in WeBull in 2021 in a transaction rumoured to have been at a valuation of around $1bn. The second private holding, payment company Stripe, has allowed its employees to cash out about $1bn worth of stock at a $65bn valuation, according to several media reports, a 30% hike from its 2023 valuation.  SJP co-founder and former RIT chair Ja...