Following Wise’s announcement earlier this month that it planned to go public with a listing directly on the LSE, the company today officially made the news through a regulatory filing. The London-based firm – formerly known as TransferWise and primarily a money transfer business – said 10 million users said it planned to list “early July 2021” but did not provide further details on its Class A share price, how to list directly. Maintaining what works. It is known, however, that the list could range from $6 billion to $7 billion with valuations. (Overall, Wise has established a dual-class share structure with two class shares in the issue, Class A shares and Class B shares, to support the pleasing focus on the mission as it transforms into the public market), noted. Class B shares are not tradable).
The statement said, “The Company will not set a price for Class A shares or offer any Class A shares with a direct listing,” the statement said. “The starting price of the shares in Class A will be determined at the opening auction on the date of admission.” The direct listing for tech companies to go public in the U.S. is somewhat off – a trend led by another European jaguar Spotify- a new twist for LSE, which has unveiled its own new rules in the process the day Wise, announced its plans.
In the meantime we will learn more details about the public offer and updates about the company’s business will be published in a prospectus and other related statements in the coming days and weeks. It would be a bold move to bypass the roadshows involving large investment banks and more conventional listings, if the companies that want to avoid the instability and commitment of the process think they have enough momentum to hit the market directly. Wise has indicated in its statement today that it has generated some initial interest in Wise customers based on its share offer. “I am satisfied with confirming our plans for the live list in London. The process will expand Wise’s ownership in support of our mission to move money around the world quickly, cheaply and easily,” Science CEO and co-founder Cristo Käärmann said in a statement in a statement.