United Kingdom-based financial technology company Wise will bring its main share listing to the United States, another major blow to the London Stock Exchange.
Wise, based in London, will dual list its shares in both the U.S. and the U.K. Specialising in money transfers, it has been listed on the London Stock Exchange since 2021.
“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. These include helping us drive greater awareness of Wise in the US, the biggest market opportunity in the world for our products today, and enabling better access to the world’s deepest and most liquid capital market,” said Wise CEO Kristo Käärmann in the company’s earnings release.
This week, pharmaceuticals company Invidior also said it would cancel its secondary listing in London, and metals investor Cobalt Holdings scrapped its plans for a London initial public offering.
Wise’s shareholders are set to vote on the dual listing proposal “in the coming weeks”, it said. Around 20% of the company’s employees are based in the U.K., and Wise plans to continue hiring and investing in employees in the country.
Wise’s underlying income was UK£1.26 billion in the year ending March 2025, up 16%. Gross profit was £1.31 billion, just above Smartkarma estimates of £1.3 billion.
Its revenue rose by 15% to reach £1.21 billion. Diluted earnings per share were UK£0.3973, a 17.8% increase.
The company’s active customers rose to 15.57 million across the financial year, up 21%. Cross-border transfer volumes grew by 23% to reach UK£145.2 billion.
Wise’s share price closed at UK£11.61, up from its previous close of £10.83. Its market capitalisation is £11.90 billion.
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