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Fintech firm Wise to directly list on the London Stock Exchange in early July

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The co-founder of fintech Wise has emerged as the top gainer in London's public markets this year, with an average daily gain of over £1.6m.
The co-founder of fintech Wise has emerged as the top gainer in London's public markets this year, with an average daily gain of over £1.6m.

Fintech firm Wise has confirmed it will float on the London Stock Exchange with a direct listing, it said in a statement this morning.

The payments group, formerly known as Transferwise, had previously made an announcement on 17 June of its expected intention to float.  

“Since announcing our expected intention to float last week, we’ve had over 60,000 expressions of interest in our customer shareholder programme, OwnWise, which is designed to reward customers who buy Wise shares and stick with us for the longer-term,” CEO and co-founder, Kristo Käärmann, said.

Wise will likely float on the LSE’s main market sometime in early July, but the price tag for the listing is not yet known.

The firm, which pulled £421m in sales this year, will apply for admission of its class A shares to the standard listing segment.

The float could reportedly value the company at as much as £9bn, in what would be the biggest debut of the year.

“I am pleased to confirm our plans for a direct listing in London,” Käärmann, said, adding that “This process will broaden the ownership of Wise, in support of our mission to move money around the world faster, cheaper and more conveniently.”

The float will come as a major boost to London’s IPO scene as the capital looks to bolster its reputation as a destination for tech companies.