British fintech firm Wise plans to go public in London via direct listing
17 Jun 2021
In this photo illustration, the TransferWise logo is seen displayed on an Android mobile phone.
Omar Marques | SOPA Images | LightRocket | Getty Images
LONDON — British financial technology firm Wise said Thursday it expects to go public on the London Stock Exchange through a direct listing.
Wise, which was formerly known as TransferWise, said it was seeking a direct listing rather than an initial public offering. Direct listings allow firms to go public without raising any fresh capital.
The news marks a big win for Britain, which is hoping to lure more large tech firms to list in London rather than New York.
Wise said it would also introduce a customer shareholder program called OwnWise, which would let users own a stake in the company.
“Wise is used to challenging convention, and this listing is no exception,” said Kristo Kaarmann, CEO and co-founder of Wise.
“We’re ten years into building a new way to move money around the world — faster, cheaper, easier and completely transparent. A direct listing allows us a cheaper and more transparent way to broaden Wise’s ownership, aligned with our mission.”