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The UK Fintech Wise plans to switch its main list to New York in an attempt to attract more investors and increase the assessment by freshly hit the London market.
The company, which listed a large fanfare in London in 2021, estimated almost £ 9 billion, said the move would increase its appeal to US investors and expand its expansion plans in the world’s largest economy.
Announcing this decision on Thursday, Wise He said: “We believe that adding the US Primary List will help us to speed up our mission and bring significant strategic and market markets to the wise and our owners.”
The stock in Wise, previously known as Transferwise, grew more than 6 percent in the early trading, giving the group a market capitalization more than 11.8 billion pounds.
Founded in London in 2010, Estonan Kristo Karman and Taallet Hinrikus, about a fifth of the company’s employees are in the UK.
His decision on the public in London, not in New York was recognized as a rare coup for the UK market. The company said it intends to keep the list in London.
On Thursday, it is said that the US main list will increase awareness of its brands in America, the key market, and will give it “the best access to the deep and most liquid capital market”.
The wise began as a supplier of money transfers that undermine banks but expanded to offer interest investment products and a debit card.
The wise said the decision to transfer its main list to New York will be made to vote by shareholders, and more about the proposed switching, which will need to be published or around June 26.
This decision is likely to be anxious about the attractiveness of the London market, which has historically fought for competition with Wall -Strit and failed in recent years, because several companies have either left London or made it a secondary list.
Group Rental of construction equipment astead in December announced the plans to move your list to New YorkSaying the United States was its biggest market. Astead was the sixth FTSE 100 group, which threw the Blue-Chip Index in favor of the venue since 2020. Others included Flutter, owner of Paddy Power, Building Material Group CRH and Ferguson’s plumbing suppliers.
An announcement of wisdom occurred through the day after supporting Glencore Cobalt Holdings inscribed The London List plans this month, which would raise $ 230 million.
While the Wise market capitalization has increased for almost four years in the London market, the company has been close attention with the regulators.
Last October, the authorities by financial behavior Fianted Käärmann 350 000 pounds For violation of the rules of conduct and failure to comply with the regulator’s notification on “significant tax issues”, but dismissed him to the post.
