Latest news with #WisePlc
Bloomberg
2 days ago
- Business
- Bloomberg
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.
Bloomberg
2 days ago
- Business
- Bloomberg
Starmer's Stock-Market Apathy Is Bad for Growth
Sure, it would feel uncomfortable for a Labour-led administration to put a vibrant stock exchange at the heart of UK government policy. What's share trading got to do with traditional left-wing values? The snag is that an apparent neglect of the equity market runs counter to Prime Minister Keir Starmer's laudable ambitions to drive economic growth. The bad news keeps trickling out. This week, the London Stock Exchange saw a failed initial public offering, the decision by fintech Wise Plc to switch its main listing to New York and a private equity takeover. Even highly controversial fast-fashion retailer Shein Group Ltd. appears to be shunning London. Gambling firm Bet365 Group Ltd. is mulling a New York IPO, the Guardian reported. Foreign bids keep coming.
Yahoo
3 days ago
- Business
- Yahoo
Fintech Wise Plans to Shift Main Listing From London to US
(Bloomberg) -- Wise Plc is planning to list its shares in the US, the latest blow to London's stock market. ICE Moves to DNA-Test Families Targeted for Deportation with New Contract The Global Struggle to Build Safer Cars NYC Residents Want Safer Streets, Cheaper Housing, Survey Says At London's New Design Museum, Visitors Get Hands-On Access The Buffalo Architect Fighting for Women in Design While the fintech will maintain a secondary listing on the London Stock Exchange, the US will be its primary listing venue, Wise said in a statement Thursday. It's the latest sign that low valuations and weak liquidity in London's capital markets are pushing companies to list elsewhere. 'We believe the addition of a primary US listing would help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners,' Kristo Käärmann, Wise's co-founder and chief executive officer, said in a statement, which noted the US is 'the biggest market opportunity in the world for our products.' Wise made its public debut in the UK in 2021 and it's shares have risen 23% since then - though it's spent most of its life as a public company trading below the original listing price. Wise said the move will allow institutional and retail investors in the US to buy up its shares and noted many of them are currently unable to do so. The move should increase liquidity in the firm's stock, allowing current shareholders 'greater flexibility and opportunity to buy and hold our shares.' The company is also hoping the US listing would give it a pathway to be included in major US indices, which should also boost liquidity and demand for its shares. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
30-01-2025
- Business
- Bloomberg
Wise Launches in Mexico to Capture Slice of Remittance Market
Wise Plc, the London-based cross-border payments firm, launched its services in Mexico as it seeks to capture a slice of the country's vast remittance market. Wise users will be able to send money from Mexico to more than 40 currencies and 160 countries, including transferring Mexican pesos to US dollars, it said in a statement.
