London's Fintech Woes Spread as Wise Shifts Main Listing to US
Wise Plc just fired the latest warning shot for British bankers and lawmakers trying to get more IPO prospects to choose London — particularly in the fintech sector.
The £12 billion money-transfer company said Thursday it will switch its primary listing to the US, the latest blow to the UK's reputation. It comes just months after Klarna Group Plc chose to go public in the US, though those plans are now on hold. Challenger banks such as Revolut Ltd. are also considering New York listings as they begin early preparations for public debuts of their own.
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