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Payment Firm Wise Plans Direct Listing in Tech Win for U.K.

  • Founders, employees get extra voting rights for limited time
  • Direct listings are becoming more popular among U.S. startups
relates to Payment Firm Wise Plans Direct Listing in Tech Win for U.K.

Source: Wise

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Digital-payments provider Wise wants to go public on the London Stock Exchange via a direct listing, the first major technology company to choose that alternative route to the market in the U.K.

The company is also giving its founders and employees extra voting rights for their shares for a limited time, allowing them to retain control after going public, Wise said in a statement Thursday. The deal could value the company at more than 5 billion pounds ($7 billion), Sky News reported, citing unidentified people familiar with the matter.