leadf
logo-loader
viewWise PLC
(
LSE:WISEFRA:6WS
)

Wise shares admitted to LSE as revolutionary listing forges ahead

We will find out its valuation in a few hours, when the exchange ends its 'auction' process

Wise PLC - Wise has shares admitted to London Stock Exchange

Wise PLC (LON:WISE) announced its entire share capital has been admitted to the standard listing segment of the London Stock Exchange.

The 994mln shares have been given a reference price, which is an estimated value from the LSE rather than a fixed IPO price, so the exchange can hold an auction.

READ: Wise’s revolutionary listing to test London as fintech hub

Buyers and sellers will also give their prices, then the stock will begin trading at around 11am, when we will find out its valuation.

The payments group is expected to be valued at around £7bn, with bullish forecasts going as high as £9bn.

The fintech company said that OwnWise, the shareholder reward programme for Wise customers, is oversubscribed with over 125,000 expressions of interest in the UK and EU.

Because only 100,000 people could take part, they were selected via a lottery.

If the winners hold their shares for 12 months they will receive bonus shares representing 5% of the value of their existing stake, for a maximum value of £100.

The group is also tempting potential retail investors with perks, including a chance to win a trip to its ‘Mission Days’ company conference and a “limited edition Wise swag”.

“Wise is a disruptor in the international remittances space which has previously been dominated by international banks and a handful of incumbent wire transfer businesses like Western Union and MoneyGram,” said Dan Thomas, senior analyst at Third Bridge. 

"Wise has a good network of local banking partnerships which helps the business secure more attractive rates for transfers. That said, it’s not inconceivable that competitors like PayPal’s Xoom could replicate these fees if they’re depositing big enough balances with local partners."

Quick facts: Wise PLC

Follow
LSE:WISE

Price: 1081 GBX

Market Cap: £10.75 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE 100 opens higher as investors await Fed minutes meeting and England’s...

FTSE 100 opened higher as investors await the minutes from the latest Federal Reserve meeting and England’s Euros semi-final this evening. London’s leading index surged 36 points to 7,136 in early trading.   International payments group Wise PLC (WISE) has been admitted to trade in London via...

on 7/7/21

2 min read