UK fintech Wise set to list in London on July 7

0
16
imageStock Markets6 hours ago (Jun 24, 2021 08:35)

© Reuters.

LONDON (Reuters) -British financial technology company Wise confirmed on Thursday that it plans to list in early July, in a test for London’s main market as investor appetite for company floats starts to wane.

The company, formerly known as TransferWise, plans to do a direct listing on the London Stock Exchange rather than sell shares at a set price in advance, with the opening price to be determined in an open auction on the date of admission to the exchange.

Bookrunners said trading was expected to start on July 7 after a management roadshow that begins on July 1.

The London-based payments app, founded in 2010 by two Estonian entrepreneurs, has not given an estimate for how much it expects to be valued at. Sources told Reuters in April it could be worth between $6 billion and $7 billion, making it potentially one of the biggest floats this year.

Kristo Käärmann, CEO and co-founder of Wise, said: “This process will broaden the ownership of Wise, in support of our mission to move money around the world faster, cheaper and more conveniently.

“Since announcing our expected intention to float last week, we’ve had over 60,000 expressions of interest in our customer shareholder programme.”

Some technology firms have had a rough ride so far on their London market debuts this year, with Deliveroo and Alphawave both diving on their debuts and still trading well below their listing prices.

Companies in other sectors have been wary of chancing the market, with Russian gold miner Nordgold pulling its planned IPO on Tuesday blaming volatility.

UK fintech Wise set to list in London on July 7

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here