Fintech Wise plans to pioneer direct London listing

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The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo

LONDON, June 17 (Reuters) – British fintech firm Wise said on Thursday it plans to go public with one of the first direct listings on the London Stock Exchange.

The London-based payments app said it is opting to list without raising any funds, in a boost to the British government’s aspirations to attract more technology firms to its capital markets.

It has been a volatile year so far for stock market listings in Europe, with at least two initial public offerings (IPO) cancelled in recent weeks.

“Wise is used to challenging convention, and this listing is no exception. A direct listing allows us a cheaper and more transparent way to broaden Wise’s ownership, aligned with our mission,” its co-founder and CEO Kristo Käärmann said.

The listing could value Wise, formerly known as TransferWise, at anywhere between $6 billion to $7…

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