Wise Approved by FCA for LSE Listing

Fazzaco learned that Wise, an innovative international money transfer provider, has been approved by the Financial Conduct Authority (FCA) for its listing on the London Stock Exchange (LSE).

Admission is expected to take place at 08.00 am (London time) on 7 July 2021. Upon listing, Wise will have a dual class share structure in place with two classes of shares in issue, class A shares and class B shares. Class B shares hold 9 votes per share, are strictly non-transferable and, amongst other voting right cancellation events, expire on the fifth anniversary of any listing.

Earlier in June, Fazzaco reported that Wise was considering applying for admission by way of a direct listing of the Shares​ to the standard listing segment of the Official List of the FCA and to trading on the main market of the LSE.

The direct listing is possible due to the company's sustainable approach to growth. Wise has been profitable since 2017, with a 54% revenue CAGR over the last 3 years reaching £421 million of revenue in FY2021. The company has no plans to raise primary capital.