Wise Plans Primary US Stock Listing While Keeping UK Presence

Global Fintech Giant Wise Seeks US Primary Stock Listing to Expand Market Reach While Preserving London Trading

Key Facts

• Wise plans to shift to a US primary listing while maintaining secondary UK listing, with company valuation growing from £8 billion to £11.07 billion since 2021
• Revenue increased 15% to £1.2 billion with underlying profit before tax up 17% to £282.1 million
• Company processed £145.2 billion in cross-border volumes, serving 15.6 million customers – a 21% increase year-over-year

Introduction

Global money transfer leader Wise announces plans to move its primary listing to the United States while maintaining a secondary presence on the London Stock Exchange. The strategic shift, revealed in the company’s full-year results, aims to tap into the world’s largest financial market and expand its US presence.

Key Developments

Originally listed on the London Stock Exchange in 2021, Wise has demonstrated substantial growth, with its valuation rising from £8 billion to £11.07 billion. The company processes approximately £118 billion annually in cross-border transactions and serves 12.8 million customers globally.

According to Finextra, the dual listing strategy aims to foster business growth in the US market while maintaining strong ties to the UK financial ecosystem.

Market Impact

The move represents a significant shift in Wise’s market strategy, potentially enabling inclusion in major US indices and enhancing share liquidity. The company plans to invest approximately £2 billion over two years in infrastructure, marketing, and product development.

Wise’s financial performance remains robust, with revenue climbing 15% to £1.2 billion and underlying profit before tax rising 17% to £282.1 million. Cross-border volumes increased 26% to £145.2 billion.

Kristo Käärmann, co-founder and CEO of Wise, emphasizes the strategic benefits of the US listing: “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.”

The company maintains its commitment to the UK market, with Käärmann noting, “The UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here.”

Expert Opinions and Data

Industry analysts view this move as part of a broader trend of technology companies seeking US listings for enhanced market exposure and capital access. The decision comes amid a slowdown in Britain’s IPO market, raising questions about London’s competitiveness as a destination for growing tech companies.

Wise’s expansion strategy demonstrates careful consideration of regulatory requirements and strategic partnerships across markets. The company saved customers over £1.8 billion in fees compared to traditional banking options in fiscal year 2024.

Conclusion

The strategic shift to a US primary listing positions Wise for accelerated growth in the American market while maintaining its strong UK presence. The move reflects the company’s global ambitions and commitment to expanding its financial services infrastructure across key markets.