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."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House of Wise CBD Raises $2 Million“When someone sees me, a founder and mom of three toddlers with a corporate background, talking about my health and wellness routine which includes things like cannabis and masturbation, they…
Read more »
Biden apologizes for being 'such a wise guy' after clash with CNN reporterBefore departing Geneva, Switzerland, following his meeting with Russian President Vladimir Putin, President Biden apologized for his reaction to a shouted question from CNN's Kaitlan Collins after a solo press conference.
Read more »
London's most expensive penthouse offered in a whisper listing for $247 millionThe nine-figure trophy flat, owned by London real estate developer Nick Candy, spans two floors at 9,000 square feet per level, with a total of five bedrooms.
Read more »
Britain and Australia agree free trade dealBritain and Australia announced a free trade deal on Tuesday which London said would eliminate tariffs on all British goods and boost jobs and businesses across the country.
Read more »
The web’s source code is being auctioned as an NFT by inventor Tim Berners-LeeLONDON — British computer scientist and inventor Tim Berners-Lee is auctioning the original code for the world wide web as a non-fungible token.
Read more »
Hopin targets hybrid, in-person events with Boomset buyHopin, a British-based provider of events, said on Wednesday it has bought an in-person event company Boomset to help clients plan, produce and share events whether hybrid, physical or virtual.
Read more »