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Wise will be released in London through a direct listing

In the picture in this photo, the Transfer Wise logo is displayed on the Android phone.

Omar Marquez | SOPA Images | LightRocket | Getty Images

London — UK financial tech firm Wise said Thursday that it will be listed on the London Stock Exchange through a direct listing.

Formerly known as Transfer Wise, Wise said it wanted a direct listing rather than an initial public offering. Direct listing allows companies to go public without raising new capital.

The news shows a big win for Britain, which wants to attract more large tech companies listed in London instead of New York.

Wise also said he would introduce a customer shareholder program called OwnWise that would allow users to own shares in the company.

Kristo Käämann, CEO and co-founder of Wise, said:

“It’s been 10 years since we built a new way to move money around the world. It’s faster, cheaper, easier, and completely transparent. By listing directly, it’s our mission. Along the way, a cheaper and more transparent way to expand Wise ownership will be possible. “

Wise will be released in London through a direct listing

Source link Wise will be released in London through a direct listing

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