Wise to Launch ADR Program in the US

Fazzaco learned that the innovative international money transfer provider Wise has set out to launch a level 1 American Depositary Receipt (ADR) program in the US, and has selected J.P. Morgan as the program’s depositary bank.

Through Adopting ADR program, US investors are able to buy shares in foreign firms, while not needing cross-border or cross-currency transactions.

Wanna be the Next Cover Person of Fazzaco Magazine?

Reportedly, the ADR is planned to roll out to trade on the over-the-counter (OTC) market on September 8, 2021, under a ticker symbol that will be unveiled near the program’s effective date.

Additionally, the new program will complement Wise’s existing primary listing on the London Stock Exchange, and it does not involve the issuance of new shares or the raising of new capital by Wise. A Wise ADR will be on behalf of one potential Wise category A ordinary share. 

In July, Fazzaco reported that Wise has been approved by the Financial Conduct Authority for its listing on the London Stock Exchange​.