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Wise stated in its annual report that the main listing will shift to the US from the London Stock Exchange (LSE), where the company will maintain a secondary listing.
“This will enable Wise's shares to be traded on both the US stock market and the LSE, which will draw in new investors and enhance liquidity,” the statement indicated.
The firm's core pre-tax earnings for the fiscal year ending 31 March increased by 17% to £282.1m.
Wise's stock price surged 7.1 percent during London trading on Thursday. The market value of the company has increased by 22.3 percent in the last three months, whereas the FTSE 100 stock index has gained 1.5 percent.
Wise conducted a direct listing on the London Stock Exchange in 2021. At that time, the company's market value was approximately £8 billion ($10.8 billion). Its current valuation exceeds £12bn.
Wise, previously known as TransferWise, seeks to simplify and reduce the costs of international payments. Established in 2011 by Estonian natives Taavet Hinrikus and Kristo Käärmann, the company emerged from their dissatisfaction with the expensive fees for transferring funds from the UK to Estonia. Wise is currently active in over 70 nations.
source: ft.com
“This will enable Wise's shares to be traded on both the US stock market and the LSE, which will draw in new investors and enhance liquidity,” the statement indicated.
The firm's core pre-tax earnings for the fiscal year ending 31 March increased by 17% to £282.1m.
Wise's stock price surged 7.1 percent during London trading on Thursday. The market value of the company has increased by 22.3 percent in the last three months, whereas the FTSE 100 stock index has gained 1.5 percent.
Wise conducted a direct listing on the London Stock Exchange in 2021. At that time, the company's market value was approximately £8 billion ($10.8 billion). Its current valuation exceeds £12bn.
Wise, previously known as TransferWise, seeks to simplify and reduce the costs of international payments. Established in 2011 by Estonian natives Taavet Hinrikus and Kristo Käärmann, the company emerged from their dissatisfaction with the expensive fees for transferring funds from the UK to Estonia. Wise is currently active in over 70 nations.
source: ft.com
