Finance

Wise debut in rare London direct listing

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The Wise logo displayed on a smartphone screen.

Pavlo Gonchar | SOPA Images | LightRocket via Getty Images

LONDON — British fintech giant Wise began trading at £8 a share in its highly anticipated debut Wednesday, valuing the company at £8 billion, or $11 billion.

The money transfer firm opted to list in London through a direct listing, a rare method of going public that was pioneered by Spotify in the U.S. back in 2018. Rather than raising money in an IPO, Wise’s private backers are selling their existing shares to the public.

In an unusual move, Wise has also introduced a program called OwnWise that lets users own a stake in the company. Customers participating in the scheme would be…



Source cnbc.com

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