Fintech Wise Rises in Direct Listing in Major Win for London
- Firm ended 10% higher with a market value of $12 billion
- Wise’s deal is first U.K. direct listing by a large tech firm
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Fintech company Wise Plc cimbed 10% in its debut following a direct listing on the London Stock Exchange, in the largest such deal ever, bolstering Brexit Britain’s capital-market hopes.
The money-transfer company born as TransferWise closed at 880 pence, giving it a market value of 8.75 billion pounds ($12 billion). That’s more than double the $5 billion valuation in a July 2020 fundraising. The stock had opened at 800 pence.