Fintech company Wise Plc is going public on the London Stock Exchange in a novel way, potentially opening up dual-class share ownership, a practice more often seen in the US. — REUTERS
The fintech company that helped revolutionise the money-transfer business is going public in a novel deal that could signal if Brexit Britain can become a destination for fast-growing companies.
Wise Plc, which was born as TransferWise, is eschewing a traditional initial public offering, opting instead for a direct listing Wednesday on the London Stock Exchange; shareholders are set to sell a stake of at least 2.4% following a three-hour auction that will set the opening price. Wise won’t raise fresh capital, while existing investors will be able to sell shares directly on the open market when trading begins.
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