Wise direct listing set to value the fintech firm at $11 billion


LONDON, July 7 (Reuters) – Wise shares were indicated to open at 800 pence on Wednesday, which would give the financial technology company a market capitalisation of 8 billion pounds ($11 billion), according to Refinitiv prices.

An auction process has begun to determine the price of Class A Wise shares ahead of their official London trading debut and the indicated price was 800 pence at 0745 GMT. The bid-ask spread in the auction was as wide as 450 pence to 1000 pence.

Wise shares, which are officially due to start trading at 1000 GMT, is set to crown a record breaking year for London listings and could pave the way for several other fast-growing British firms in the financial technology sphere, a dozen investors, entrepreneurs and experts told Reuters. read more

The cross-border payments company, one of Britain’s most well-known fintech unicorns, last month launched direct listing on the London Stock Exchange, which allows for a listing without a…

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